Romania: German giant sets up new gas and electricity supplier

German energy group E.ON has set up a new company in Romania called E.ON Vanzari.

It has asked for a license for electricity supply from the National Agency for Energy Regulation (ANRE), reports local The company’s share capital amounts to RON 9 million (EUR 1.96 million).

E.ON Romania recorded a net profit of over EUR 110.3 million last year, after losses of EUR 3.9 million in 2015. The supplier E.ON Energie boosted its net profit by 55% in 2016 to EUR 37.8 million. The turnover amounted to over EUR 1 billion.

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