It’s official: EC Oltenia receives state aid of 251 million euros, through Ordinance

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The Romanian Government approved, in the meeting on Tuesday, the Emergency Ordinance by which the Oltenia Energy Complex receives 1.2 billion lei for the purchase of the carbon dioxide certificates for the year 2019, according to a statement from the Ministry of Energy.

The Oltenia Energy Complex claimed recently that the requirements regarding the formal transmission of the state aid of approximately 251.5 million euro have been fulfilled, according to a company statement.

“On 20.01.2020, in accordance with the European and national provisions on state aid, the Ministry of Economy, Energy and Business Environment (MEEMA) transmitted through the Competition Council to the specialized directions of the European Commission the rescue aid forms for The Energy Complex Oltenia SA.

”Following the clarifications that took place between the European Commission, MEEMA, the Competition Council and the CE Oltenia, on 31.01.2020 it considered that the requirements regarding the formal transmission of the pre-notification of the rescue aid were fulfilled,” states the company, quoted by financialintelligence.ro.

At the proposal of the Ministry of Economy, Energy and Business Environment, the Romanian Government approved on December 30, a Memorandum on the subsidy of the Oltenia Energy Complex, for the purchase of carbon certificates for 2019.

The Memorandum contains a number of measures, including “the possibility of granting a loan from the Treasury in the amount of 1,200 million lei to the Oltenia Energy Complex Company, in the form of a rescue aid, after completing the steps provided by the applicable state aid legislation and after obtaining the decision of authorization of the European Commission.”

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