EC must approve subsidies to RADET – Romania, 19 September 2016

President of the Romanian Competition Council Bogdan Chiritoiu said that the Bucharest City Hall will have to ask the approval of the European Commission (EC) for the subsidies to thermal energy distributor RADET, adding that it will not affect the heat supply to the Romanian capital and the price paid by consumers.
Two weeks ago, Bucharest-based thermal energy producer ELCEN announced that almost half of households in Bucharest could remain without hot water after Distrigaz has significantly reduced gas flow to the company as a result of a huge debt. ELCEN was unable to honor payments to suppliers and distributors of raw materials and services and accumulated the debt of some 400 million euros. However, the company’s largest debtor is RADET, who owes over 800 million euros to ELCEN.

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