Authorities Seek Solutions To Pay CFR"s Overdue Electricity Bills

Tradus de Andrei Năstase
Ziarul BURSA #English Section / 30 iunie 2009

A.T.

Authorities continue to seek solutions to enable the National Railway Company (CFR) to pay their debts to the electricity companies. According to Petru Lificiu, President of the National Energy Regulatory Authority (ANRE), the overall sum of all debts is approximately 300 million EUR plus penalties for overdue payments.

Lificiu said the Ministry of Economy, the Ministry of Finance, the Ministry of Transportation and ANRE were still having talks trying to find a way to get the money into the energy suppliers" accounts. ANRE has proposed eight scenarios, while the suppliers will prepare their own proposals.

One of the options would be to have a lower energy production cost for CFR and pay the favourable difference up to the billing price directly to the suppliers to partially compensate for the debts. Both State-run and private energy companies are strongly affected by their inability to collect the value of overdue invoices from CFR, especially considering that the crisis is taking a significant toll on energy consumption and, indirectly, on their earnings.

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