The German E.ON company, which has recently integrated its gas and electricity activities, have already cut this year’s investment budget and are considering a new reduction. Thus, the enterprise, which is the world’s largest private utility company cut its investment program by 23 percent, and could further cut this, due to high financial costs and difficulties in accessing financing, company officials told Business Standard.
“At present, the total 2009 planned investment budget of gas and electricity distributors within the E.ON group in Romania amounts to RON 255 million [some €61 mln],” according to E.ON officials.
GDF SUEZ Energy Romania, owner of Distrigaz Sud, is considering possible measures to cut costs and announced it is negotiating with trade unions regarding the number of employees. Furthermore, the company will lower investments by 25 percent this year, according to its new General Manager, Yvonnick David, quoted by the NewsIn agency. Thus, GDF SUEZ Energy Romania will allocate RON 228 mln (some €53 mln) for investments in 2009.
