In a recent development, former Energy Minister Virgil Popescu has responded to criticisms leveled by Prime Minister Marcel Ciolacu regarding the selection of board members for state-owned energy companies. Popescu, who served during a critical period marked by energy crises and geopolitical tensions, defended his tenure and the integrity of the selection process.

Popescu, in a statement posted on his social media platform, emphasized that the selection of board members for companies under the Ministry of Energy was conducted in strict adherence to the law. He stated, “The selection has respected, without deviations, the legislation in force,” and expressed pride in the management teams he had appointed.

“The selection has respected, without deviations, the legislation in force,” says Popescu, specifying that he is proud of the management teams and has nothing to reproach them. “Who wants to destabilize the energy sector in our country,” Virgil Popescu reports.

Popescu detailed the selection process, noting that some of the appointments were made during his tenure, while others were completed by his successor, Sebastian Burduja. He highlighted that the process for selecting the Board of Directors for SNN Nuclearelectrica SA and SNN Romgaz SA was completed under his watch. For other companies like SC Oil Terminal SA and Speeh Hidroelectrica, the selection process was initiated by him but completed by Burduja.

“For SC Oil Terminal SA and Speeh Hidroelectrica we have completed only the procedures for selecting the Board of Directors/Supervisory Board, however, the process is continued by my colleague, the Minister of Energy Sebastian Burduja. For the rest of the companies the selection was completed by him. I am convinced that both in my mandate as minister and Minister Burduja the selection has respected, without deviations, the legislation in force,” wrote Popescu.

Addressing recent allegations of conflicts of interest, Popescu noted that he had not seen the European Commission’s document on the matter and was awaiting official clarification. He expressed confidence in the management teams, stating, “I am proud of the management teams of all energy companies, which in a period of energy crisis and war at the border, do their job well.”

“I wait, as well as the public opinion, the official decision and the motivation of the European Commission to see what the deficiencies found. But nevertheless, I can tell you that I am proud of the management teams of all energy companies, which in a period of energy crisis and war at the border, do their job well. I do this for Romanians and Romania,” the former Minister of Energy said.

Popescu praised the efforts of specific companies, such as Nuclearelectrica, Romgaz, and Hidroelectrica, for their contributions to energy independence and economic stability. He highlighted the professionalism and dedication of these companies in navigating the current energy crisis.

“I also thank Romgaz who continue the project of gas extraction project from the Black Sea, from the Neptune Deep perimeter of gases from the deep sea deposit from Caragele. Moreover, they made the most professional bonds show to finance, to continue developing investments. I could not reproach anything to Hidroelectrica who understood the need to enter the market for the supply of electricity of domestic customers and have very good prices for Romanians, thus offering a correct and competitive offer. In parallel, they also made a successful listing on the Bucharest Stock Exchange,” the former minister said.

In response to the Prime Minister’s criticisms, Popescu questioned the motives behind the allegations, suggesting that the energy sector is being targeted despite ongoing efforts to stabilize it. He called for a thorough and transparent investigation into the matter, emphasizing the need for stability and security in the energy sector.

“I will explain, without restraint, that the law was respected, and Romania, along with the EU, acts to ensure our energy security. However, I cannot help but wonder: who wants to destabilize the energy sector in our country, although we have not exceeded the energy crisis, and the war is still on the border? I want those with decision-making power to analyze with maximum vigilance and wisdom all the data, to make the best decisions,” concluded Virgil Popescu.

Prime Minister Ciolacu, in his response, highlighted the European Commission’s findings of irregularities in the selection process and the need for corrective actions. He mentioned that an ordinance has been issued to address these issues, emphasizing the government’s commitment to transparency and accountability.

“Mr. Burduja (Sebastian Burduja 0 The current Minister of Energy – no) took over from the former minister (Virgil Popescu – no) this problem. The Commission (European Commission – no) detected certain irregularities in the selection on 109 (GEO 109/2011 – on the corporate governance of public enterprises). And there are certain recommendations and it is a fairly consistent amount that will stop for a period of six months until this is remedied. Then, yesterday, together with the members of the Government, my colleagues, I have already given an ordinance so that Mr. Sebastian Burduja does not assume the natural person. We assume the whole government of Romania truly a stupidity made by another government and another minister,” said Marcel Ciolacu.

This ongoing debate highlights the complexities and challenges of managing state-owned energy companies, especially in times of geopolitical instability and energy crises. The situation in Romania mirrors similar debates in the United States, where the management and oversight of public utilities and energy companies are under constant scrutiny.

For instance, in the U.S., the Federal Energy Regulatory Commission (FERC) plays a crucial role in ensuring the reliability and transparency of energy markets. Recent controversies, such as the Texas power outages during the winter storm Uri in 2021, have underscored the importance of robust governance and preparedness in the energy sector.

As the situation unfolds, it remains to be seen how the Romanian government will address the allegations and ensure the stability of its energy sector. The outcome could have significant implications for both domestic energy security and broader European energy policies.