Nuclearelectrica debts erased by the state

According to MEF officials, the measure did not require that the European Commission (EC) be notified about this state aid, as investments in the nuclear energy sector are excluded from such legislation. "For this sector, stipulations of EURATOM are applied, which do not include stipulations on state aid," ministry officials said. They added that MEF is not expecting criticism from the EC for cancelling Nuclearelectrica debts.

The erasure of these debts was necessary to allow Nuclearelectrica to become part of the company founded for the construction of two further reactors for the Cernavoda nuclear plant and for the company’s possible stock exchange listing. Economy and Finance Minister Varujan Vosganian recently said that the state plans to list Nuclearelectrica shares on the stock exchange.

The debts were cancelled according to an emergency ordinance issued by the government last year.