Electrica SA power supply and distribution corporation has successfully completed the first stage of the merger through absorption of the three electricity distribution companies within the Group, which, as of January 1, 2021, has become Distributie Energie Electrica Romania SA (DEER), informs the company through a press release sent to AGERPRES on Monday.
The merger through absorption of the electricity distribution companies within the Electrica Group was approved in principle by the Board of Directors of Electrica in the meeting of May 27, 2020, the decision being an important step in the Group's Strategy implementation plan for 2019- 2023.
Through the merger of the three electricity distribution operators within Electrica Group, SDEE Transilvania Nord, SDEE Transilvania Sud, SDEE Muntenia Nord, the new company Distributie Energie Electrica Romania will operate 198,988 km of power lines in 18 counties, from three geographical areas of the country, representing 40.7 per cent of Romania's territory, and will serve over 3.8 million end-users.
The main objectives of the strategy defined for the distribution segment envisage optimizations on three dimensions: operational performance, quality of services and cost optimization for the final consumer, reads the release.
This comes in addition to the long-term strategic directions, focused on the consolidation and development of the business model, in conjunction with the preparation of the distribution networks to cope with energy transition challenges.
From 2014 until now, the Electrica Group has become the largest investor in the modernization and refurbishment of electricity distribution networks, with a total of 4.39 billion lei invested.
The Electrica Group is a key player on the electricity distribution and supply market in Romania, as well as one of the most important players in the energy services sector.
The group provides services to about 3.8 million end-users and has a nationwide scope. Since July 2014, Electrica has been a company with prevailing private capital, listed on the stock exchanges in Bucharest and London. Electrica SA is the only Romanian company listed in the field of electricity distribution and supply in Romania.
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