The PPC Group decided to simplify the organizational structure of its companies in Romania, aiming for more efficient management, greater flexibility and faster provision of services to customers.
Specifically, in the supply business, the two distinct companies are merging into one, which will be called PPC Energie. The process is expected to take place later this year, with completion expected by December 31, 2024.
Thus, in the distribution activity, the three different companies are merged into one, which will be called Rețele Electrice Romania. The process is expected to take place over the next few months and be completed by November 30, 2024.
Upon completion of the merger, PPC Energie, as the only PPC Group company in Romania in energy supply, will be able to provide all its customers with integrated solutions and a unified service experience.
At the same time, by starting to serve around 3 million customers in a unified way, PPC Energie will be able to reduce the average cost of energy supply and more effectively manage any volatility in the energy market.
Thus, Rețele Electrice Romania, the Group’s only distribution company in Romania after the completion of the merger, will serve approximately 3.1 million customers, will be able to operate more efficiently, will have greater investment flexibility and will accelerate network development, as you will have better access to financing capital.
The merger will not affect the companies’ workers, since the workers of the absorbed companies will move to the two companies PPC Energie and Rețele Electrice Romania.
At the level of the PPC Group, the simplification of the corporate structure of activities in Romania contributes to better monitoring and more efficient cooperation between companies, creating greater value for PPC shareholders.
Mergers do not require approval from competition authorities, as there will be no change of control in the companies involved.