Electrica completes the merger process of its two energy services companies

Electrica announces the successful completion of the merger of the two energy services companies within the Group, respectively Filiala de Intretinere si Servicii Energetice Electrica Serv SA (FISE Electrica Serv) and Servicii Energetice Muntenia SA (SEMU). Therefore, starting with 1 December 2020, the Group’s energy services will be carried out only under the umbrella of FISE Electrica Serv.

“The merger of FISE Electrica Serv SA and SEMU lays the foundation of a more flexible, more efficient structure that allows the development of a coherent investment plan, correlated with market needs and opportunities, as well as the application of a single personnel policy and the creation of new professional opportunities,” a release shows.

The merger involves the unification of the management process of the activities currently carried out by the two companies, which may lead to substantial savings and will allow the development of a unique strategy for this segment. At the same time, the new company is based on a total of 730 employees, out of which over 550 are dedicated to technical activities – and will benefit from greater territorial mobility and a complex equipment park, adapted to an extensive range of maintenance and investment works, both for domestic and business clients.

Corina Popescu, CEO of Electrica, said: “Electrica is willing to become a strong provider of integrated energy services, optimized in terms of costs, with internal capabilities and partnerships in order to ensure flexibility and agility. We are sure that the synergies resulting from the merger of the two services companies will help the Group in achieving the strategic objectives”.