Romanian electricity distribution and supply group Electrica, whose biggest shareholder is the state with nearly 49% of the shares, has initiated the merger of its three regional electricity distribution networks.

Thus, Electrica plans to merge Electrica Transilvania Nord, Electrica Transilvania Sud, and Electrica Muntenia Nord in a single company. This initiative is one of the main pillars of the group’s strategy for the period 2019-2023.

The three power distribution companies together hold over 196,000 kilometers of power lines and serve 3.71 million customers. They have more than 6,600 workers.

In November 2017, Electrica bought the minority stakes held by investment fund Fondul Proprietatea in the three subsidiaries (some 22% in each) plus a minority stake in a service unit for RON 752 million (EUR 170 mln). Electrica also owns an electricity distribution company - Electrica Furnizare, which supplies electricity to some 3.5 million clients.

editor@romania-insider.com

(Photo source: Electrica)