Romanian PM publishes list of high salaries in state – owned energy companies, asks for further taxation

Managers in several Romanian state-owned companies working in the energy field earn high salaries even if their companies are in dire financial straits. A list of top management salaries in large state companies was recently released by Prime Minister Victor Ponta (in picture), who criticized the level of pay, and said Romania is a 'special country', where managers in state companies make more money than those in the private sector. The PM asked the Finance Minister to look at taxes on these salaries, suggesting they should pay more tax and earn less.

The biggest salary in the list publicized by the Government is that of the head of Electrica Distributie Muntenia Nord, with RON 18,000 a month – or some EUR 4,000. Most of the salaries on the list range around RON 10,000 – or some EUR 2,200, and only two of the 27 salaries on the list are under RON 5,000 – or EUR 1,100. There are also differences in pay between the GM of a company and the middle managers. For example, the GM of Conpet makes RON 4,693 – or EUR 1,000, while the director in charge of maintenance makes almost three times more – RON 12,600 or some EUR 2,800. Another odd one on the list is the insolvent Hidroelectrica, Romania's largest energy producer, where a division director makes RON 13,000 a month – or some EUR 2,900. The salaries are valid for March and represent net salaries at maximum level, according to the Government. Not all the salaries for GM positions have been made public. The full list of salaries below 0 the amounts in EUR were conversed using the RON 4.45 per EUR exchange rate.

Oil Terminal – GM – RON 4,712 (EUR 1,058) Oil Terminal – Technical Director – RON 6,381 (EUR 1,433) Conpet – GM – RON 4,693 (EUR 1,054) Conpet – Director in charge of Maintenance – RON 12,608 (EUR 2,833) Romgaz – GM – RON 11,000 9EUR 2,471) Romgaz – Deputy GM – RON 14,306 (EUR 3,214) Hunedoara Energy Complex – Deputy GM – RON 10,029 (EUR 2,253) Oltenia Energy Complex – GM – RON 13,455 (EUR 3,023) Oltenia Energy Complex - director – RON 12,952 (EUR 2,910) Hidroelectrica – division director – RON 13,183 (EUR 2,962) Hidroserv Cluj – Deputy director for development – RON 9,788 (EUR 2,199) Hidroserv Cluj – technical Director – RON 8,600 (EUR 1,932) Hidroserv Sebes – deputy director – RON 11,291 (EUR 2,537) Hidroserv Curtea de Arges – deputy economic director – RON 13,922 (EUR 3,128) Hidroserv Curtea de Arges – deputy technical director – RON 13,052 (EUR 2,933) Nuclearelectrica – GM – RON 14,850 (EUR 3,337) Nuclearelectrica- executive directors – RON 9,228 (EUR 2,073) Transelectrica – Deputy GM – RON 12,527 (EUR 2,815) Electrica SA – Deputy GM – RON 10,837 (EUR 2,435) Electrica Distributie Muntenia Nord – GM – RON 18,000 (EUR 4,044) Electrica Distributie Muntenia Nord- Deputy GM – RON 11,400 (EUR 2,561) Electrica Serv – Director in headquarter – RON 10,976 (EUR 2,466) Electrica Serv – Subsidiary manager – RON 8,522 (EUR 1,915) Electrica Furnizare – director within headquarters – RON 11,400 (EUR 2,561) Electrica Furnizare – subsidiary manager – RON 9,593 (EUR 2,155) Servicii Energetice Oltenia – division director – RON 8,523 (EUR 1,915)