Ioan Folescu, CEO
US$ 1.6 billion (2009)
| ECEA (FRA) € 12.11 -0.05 (-0.41%)8 Mar, 9:05 AM GMT+1 - Disclaimer|
Electrica Muntenia Nord SA, SC Electrica Serv SA
Electrica is a Romanian state-owned company specialised in electric power supply and distribution. The company was established in 1998 as a division of CONEL (Compania Națională de Electricitate), the largest electric power distribution company in the country at that time, but became a stand-alone company in 2000 when CONEL was restructured. The company is one of the most important electric power distribution companies in Romania.
Electrica is structured into three distribution companies depending on geographic location. The three companies are Electrica Transylvania North, Electrica Transylvania South and Electrica Muntenia North. Each of the companies has two supply and distribution branches but there is also a general maintenance company Electrica Serv.
The first electric power distribution company after the communist regime disappeared in 1990 and was called RENEL or Regia Autonomă de Electricitate. The company owned and operated everything in the field of electricity production, transmission and distribution in Romania and had an installed production capacity of around 20,000 MW. In 1998 RENEL is dissolved and divided into three companies CONEL (supply and distribution), Nuclearelectrica (production) and Regia Autonomă pentru Activități Nucleare or RAAN (production and research).
Since 1998 the company that took over all the production and transport facilities of the former RENEL was CONEL (Compania Națională de Electricitate). The company had three branches, Termoelectrica specialised in production of thermal and electric power from fossil fuels, Hidroelectrica specialised in production of electric power from renewable sources especially hydro power plants and Electrica specialised in the supply and distribution of electric power. In 2000 the CONEL company was dissolved and the three branches that formed it became separate companies including a new one called Transelectrica specialised in the transportation of electric power thru power lines.
The current Electrica company was established in 2000 after the break-up of CONEL and initially had eight branches North Transylvania, South Transylvania, North Muntenia, South Muntenia, Moldova, Oltenia, Dobruja and Banat. In 2005 Electrica privatised four of its branches namely Moldova, Oltenia, Dobruja and Banat by selling 51% shares in each. The Electrica Oltenia branch was sold to the Czech company CEZ Group for €167 million while the Electrica Moldova branch was sold to the German company E.ON for €100 million. The Electrica Banat and Dobrogea were sold to the Italian company Enel for a combined €112 million. The Italian company also bought in 2008 a 64.4% stake in the Electrica Muntenia Sud, the largest of the Electrica branches, for €820 million.
Electrica currently owns three distribution companies that are organised into seven smaller branches, three for electric power supply, three for distribution and a maintenance branch, that serve around 3.5 million people. The company also owns 438 electric power stations, 25,600 power transformers and a network of approximately 116,500 km of power lines.
The three distribution companies owned by Electrica are Electrica North Transylvania that servess 6 counties located in North Western Romania namely Bihor, Bistriţa-Năsăud, Cluj, Maramureş, Satu Mare and Salaj counties which serves 1.16 million people over an area of 34,160 km2 (13,190 sq mi); Electrica South Transylvania that serves 6 counties located in central Romania namely Alba, Braşov, Covasna, Harghita, Mureş and Sibiu counties which serves 1.06 million people over an area of 34,100 km2 (13,200 sq mi); and Electrica North Muntenia that serves 6 counties located in Southern and South Eastern Romania namely Brăila, Buzău, Dâmboviţa, Galaţi, Prahova and Vrancea counties which serves 1.2 million people over an area of 34,000 km2 (13,000 sq mi)