Romania: OPCOM diversification of shareholders still on hold

, SEE Energy News

The operator of the electricity market and natural gas in Romania (OPCOM) had in 2014 a net profit of 1.6MEUR in turnover of almost 6.6MEUR. In 2013 OPCOM had a net profit of just over 111K EUR and a turnover of 4.4MEUR, according to data from the Ministry of Finance.

Better results are expected after the privatization. Both the International Monetary Fund and the European Commission asked the Romanian state to accelerate the process of diversification of energy exchange shareholders. The privatization project to be completed by the end of 2013, was approved since 2012.

In the meantime, representatives of Transelectrica (the company that owns OPCOM) were appointed and recently voted to postpone a decision on the publishment of annual financial statements of OPCOM.

OPCOM average number of employees increased from 80 in 2013 to 88 last year.

Last year was specially tough one because OPCOM had to pay the penalty fee amount of over one million euros applied also to operator Transelectrica by the European Commission decision for antitrust infringements. The fine exceeded (although it should not exceed) 10% of the turnover of 4.42 million of OPCOM on 2013. So that exchange operator then decided to sue Transelectrica to recover the 600,000 euro pay extra. , transmits