Corina Popescu, Electrica: “We do not anticipate significant difficulties in continuing the electricity supply”

Electrica Group has measure plans implemented in order to ensure the continuity of activities, parameterized depending on the situation’s evolution, and does not anticipate significant difficulties in continuing the electricity supply, according to CEO Corina Popescu.

“We continue to be one of the companies with the most stable share price on the Bucharest Stock Exchange, despite the increased volatility recorded by the capital market,” Popescu explains. “Even though the evolution of the share price is in negative territory regarding the year-to-date (YTD) return, Electrica recorded, on 6 April 2020, the third best performance in the BET index (-9.86%), far superior to the ones of BET and BET-NG indices, which recorded decreases of approximately 23%. During this period, we noticed a consolidation of the positions held by institutional investors, which traditionally have a medium and long-term investment strategy. We consider that this is due also to the fact that the defensive shares (those that are not very affected by the economic cycles), like those of Electrica, are considered safer during such times of crisis, the utility companies being essential for the national economy.”

In the fight against COVID-19, Electrica has adopted “all the necessary measures” so that the activity of the companies within the Group to continue to be carried out under normal conditions.

“Ever since the beginning of the crisis the resilience plan in force at Group level has been updated promptly to respond to the exceptional situation at the national level and to limit a potential expansion of Covid-19,” Popescu underlines. “Also, essential activities and critical roles have been identified, staff backup has been insured and three action scenarios on escalation levels depending on the evolution of the situation in the external environment of the company have been defined, based on which a resilience plan was developed for each company within the Group. Up to this moment, activities that involve interaction with clients and / or access to clients’ homes have been limited and the scheduled works reprioritized, in order for the scheduled interruptions in the electricity supply to be diminished.”