Romania avoided losing 300 million euros from PNRR
The Ministry of Energy has officially reacted to the decision of the European Commission to partially suspend payments related Specifying that the aspects invoked concern actions before June 2023 and that, meanwhile, significant remedial measures have been adopted.
Jalon 121, part of component 6 – PNR energy, aims to improve corporate governance in state energy companiesby introducing transparent procedures, based on merit, for the selection and appointment of members in the board of directors and the executive management.
Non -conformities reported by the European Commission
The European Commission has found that certain appointments made before June 2023 in the Board of Directors and in Executive Positions did not fully comply with the criteria and procedures assumed by the 121 milestone.
Corrective measures implemented by the Ministry of Energy
Starting with taking over the mandate by Minister Sebastian-Ioan Burduja, in June 2023, the Ministry of Energy has implemented a series of major corrective measures, on several levels:
- Constant Dialogue with the European Commission: Multiple meetings, exchanges of technical documents and clarifications were organized, including visits to Brussels, where the minister presented the progress.
- Legislative changes: The government has adopted two emergency ordinances (GEO no. 22/2025 and GEO no. 4/2025) which strengthen the rules of corporate governance. Among other things, they allow the revocation of the members of the board of directors who do not comply with the selection criteria, respecting the contractual rights.
- Changes in the management of companies: All the administrators and directors identified by the commission were revoked as being not called. The action concerned about 40 people from 8 major energy companies, including Hidroelectrica, Romgaz, Nuclearelectrica and EC Oltenia.
- Resuming selection procedures on meritocratic bases: The ministry has started new transparent recruitment processes and in accordance with the updated legislation, involving independent experts and the Agency for Monitoring and Evaluation of Public Enterprises (AMEPIP).
- Adoption of new normative acts: GEO no. 22/2025 which clarifies possible conflicts of interest and the duties of the representatives of the minority shareholders.
- Accelerated calendar for concluding non -compliant mandates and launching new selections: Between February and April 2025, the GMS were convened to update the mandate contracts and to initiate the new selection procedures in all the companies concerned.
- Reducing the financial impact: As a result of these measures, the degree of implementation of the reform was recognized by the commission to 65.5%, and the amount retained temporarily was reduced by about 70 million euros.
Ongoing procedures
Currently, the selections for the new members of the board of directors are held within 8 key energy companies. Also, there are actions for the merger of entities such as the Institute of Design Mine on Lignit with EC Oltenia, in order to make the governance structure and reduce the financial vulnerabilities.
In the case of other companies recently transferred in the Portfolio of Authority for State Assets (AAS), such as Eurotest and Radioactive Mineral Măgurele SA, the selection procedures are in progress and will be completed until September 2025.
