State-owned electricity transmission system operator Transelectrica, a company with revenues of 6 billion lei, caught up in the PSD-PNL conflict for the head of the general secretariat of the government. The company is now run by a person from Buzau unknown in the energy sector.

The political conflict triggered by the PSD’s refusal to appoint Mircea Abrudean as secretary general of the government could have consequences for the management of Transelectrica, one of the largest state-owned companies, with a turnover of 6.3 billion lei last year. The company, controlled by its majority shareholder the Secretariat General of the Government (SGG), is now run by an interim director from the fiefdom of Prime Minister Marcel Ciolacu, with zero top-level energy expertise.

National electricity transmission company Transelectrica, a state-owned company controlled by the General Secretariat of the Government (SGG), ended 2022 with a net profit of 529 million lei, up 1,175 times compared to 450,000 lei in 2021, according to Economedia.

Transelectrica is the state monopoly in electricity transmission. It is a company of strategic importance. The main shareholder is the SGG, with 58%, followed by Pavăl Holding (the company of the Pavăl brothers who founded home improvement retailer chain Dedeman) and the NN pension fund.

Transelectrica’s board of directors must be appointed by Friday 23 June, when the current directors’ terms expire. The composition of the board is decided by the Supervisory Board, whose term expires on Wednesday 21 June. And the names of the members of the Supervisory Board are decided by the Secretariat General of the Government, now led on an interim basis by Adrian Țuțuianu (PSD).

According to G4Media, the terms of office of the members of the Supervisory Board were extended this weekend, so the appointment of the new members of the company’s board of directors is next.

The post of general director of Transelectrica is now occupied, on an interim basis, by Ștefăniță Munteanu, a PSD county councillor from Buzău.

He was appointed director general for two months in April, as G4Media wrote at the time.

Munteanu is, however, an unknown in the energy sector. He has held third-tier positions in energy companies. „He is not known as a top manager in the industry at this level,” several energy market sources told G4Media.

Munteanu was elected county councillor on the PSD Buzău list, the fiefdom of Marcel Ciolacu, the current PSD president.

He was appointed Transelectrica director general from April 24 to June 24, according to the official website. He took over from Gabriel Andronache, newly elected vice-president of the National Energy Regulatory Authority (ANRE).

Transelectrica, the electricity transmission monopoly, is one of Romania’s largest and most important companies. According to Economedia, Transelectrica made a profit of 530 million lei in 2022, 1,000 times higher than the previous year. Also in 2022, the company’s revenues were 6.3 billion lei.

Ștefăniță Munteanu’s CV shows that he has never held a similar position in such a complex company, and his experience in the energy sector in general is limited.

A native of Buzau, he has only a bachelor’s degree in economics from the Romanian-American University. Prior to his appointment as Transelectrica’s head, he worked since 2019 at the Buzău branch of another state-owned firm, Electrica Furnizare S.A, according to his official CV and declaration of assets.