Romania's Energy Ministry plans to change boards of large energy firms

Romania’s Energy Ministry announced yesterday that all its proposals for the supervisory and administration boards of local energy companies Hidroelectrica, Nuclearelectrica, and Romgaz are provisional, for a period of four months. The ministry will then start procedures for the recruitment of new members in these boards, with full terms of four years. The performance of the old board members shows that extending their mandates would not be an optimal solution for these companies, according to a press release issued by the Energy Ministry yesterday, cited by local News.ro. The Ministry of Energy is dissatisfied about the state representatives in the supervisory board of Hidroelectrica. The company invested only 42% of the available amount last year. Based on this data, extending the terms of “these state representatives in the supervisory board would be a management decision that would maintain low efficiency,” according to officials of the Energy Ministry. The Ministry is also unhappy with the board and managers of Nuclearelectrica, the company that operates the Cernavoda nuclear power plant. According to the Ministry, the company’s decision to cancel the contract with the National Uranium Company has made the local nuclear industry vulnerable. The Prime Minister’s Control Body is currently looking into this matter. editor@romania-insider.com