Romanian power distributor and
supplier Electrica [BSE:EL] said it has filed several legal actions seeking the
annulment of certain decisions of local energy regulator, ANRE.
One legal action seeks the annulment of an order by ANRE's president for
establishing the regulated return rate (RRR) applicable for the approval of
tariffs for power distribution services provided by concessionaire distribution
operators starting from January 1, Electrica said in a statement filed with the
Bucharest Stock Exchange on Wednesday.
Raiffeisen Bank Romania said in a note to investors on Thursday that Electrica
is suing the regulatorfor reducing the RRRfrom 8.52% to 7.7% and
rated the news as positive for the company's share price.
Raiffeisen Bank saidthat it is hard to estimate this
action'schances of success.
"We clearly appreciate Electrica's initiative in trying to stop the
regulator to change the rules in the middle of the game. The management has
commented before that they are considering suing the regulator and we are
pleased that they indeed took action," the bank's analysts added.
Blue chip Electrica was changing hands flat at 12.25 lei ($3.2/2.7 euro) by
0907 CET on Thursday.
Source: SeeNews
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