Electrica asks EUR 250mln from CEZ, Enel and E.ON for failure to comply with the privatization terms

The Romanian state, through Electrica, seeks justice in Paris in matters concerning the breach of clauses from the privatization contracts by the European energy heavyweights. The latest report of the Court of Auditors shows that the amounts brought by foreign investors as share capital increase when they bought the energy distribution companies were not actually invested. Penalties of EUR 250mln are in the middle, asked by the Romanian state. Electrica, the only state-owned company active in electricity distribution and supply, a business worth EUR 1.5bn, is in lawsuit with all the  European giants that bought during 2005-2008 five of the 8 electricity distribution and supply subsidiaries.