The General Director of E. ON Romania on Friday threatened he would cut investments in our country unless energy price is not raised, requesting a meeting with Prime Minister Emil Boc.
"We want to discuss with Prime Minister Emil Boc, we are preparing this and we want very much to explain him the situation on the energy and gas market from the investor's point of view. (...) E.ON wants to remain in Romania because it is an interesting market. Energy is everywhere a political business. (...) We are forced to reduce investments, even if they are necessary everywhere. Take a look at the grids. You can see that investments have slowed down, they are not as they were expected. (...) We have unrecovered costs every year. At group level, we hope to have a positive financial result at the end of this year, but well below our and the shareholders' expectations," said the General Director of E.ON Romania, Frank Hajdinjak.
He said the National Energy Regulatory Authority (ANRE) should increase natural gas price by over 17% and that of electricity by at least 5%, because E.ON sells below cost.
The E.ON official reminded that, since 2005, the gas and electricity sector in our country has benefited from investments in amount of 400 million euros, the profits having been reinvested in the company during this period. He mentioned that E. ON invested 260 million lei in Romania only last year, the same level being planned for this year, too, but that could be reduced if the energy market and electricity and gas prices will not be "reasonable."
"The ANRE gives no justification for the decisions to maintain prices or for anything else. Eventually, the pressure on operators will kill them. The discussions with the ANRE are difficult, but my impression is that they understand the problem," added the E.ON Romania Director, saying that they sell below cost, as g
