Bucharests thermal energy distributor RADET filed for insolvency after a decision made by the Bucharest General Council on Wednesday, September 22. RADETs main supplier Electrocentrale Bucuresti (ELCEN) may also file for insolvency on Thursday, September 23.
The two state-owned companies have been quarreling over overdue payments in recent years, threatening to stop providing heat to Bucharests residents. The local and Government officials hope that insolvency will solve the problem.
Bucharests mayor Gabriela Firea said that RADETs insolvency would not lead to layoffs, but that it was a way to save the company and restructure it. She also promised that the delivery of thermal energy would not be disrupted.
Insolvency…
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