The energy suppliers that charged end-users a price set by the Government have received so far only 30% of the compensations promised by the Government, the association of energy suppliers (ACUE) announced, quoted by Adevarul.

Six months after the 'cap and subsidy' scheme was enforced, at a time when the (indirect) impact on the budget should be known, the energy suppliers have observed all the requirements and paid all the taxes in time - while the Government is very slow in making the necessary payments, ACUE executive director Daniela Dărăban explained.

On the other hand, the director of ACUE pointed out that at this moment, "without blaming anyone," the energy producers are in a slightly favourable situation because they benefit from a context that has led to an extraordinary increase in energy prices on the wholesale market.

In related news, Italian utility group Enel announced that it incurred losses of EUR 154 mln in Q1 this year in Romania.

On the one hand, the distribution fee does not cover the costs (generating financial deviations to be offset starting next year). On the other, the Government is paying with a delay the compensations owed under the 'cap and subsidy' scheme, Alberto de Paoli, ENEL's CFO, was quoted by DCNews.ro as saying. "It doesn't make much sense to invest in an excessively punitive environment," De Paoli said, when asked if the regulations in Romania could affect Enel's presence in the country.

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andrei@romania-insider.com