REG - Soc EnergElectricaSA - Litigation Settlement ANRE

Societatea Energetica Electrica SAAnnouncement

18/12/2020 16:25

RNS Number : 2274J
  
Societatea Energetica Electrica SA
  
18 December 2020
  
 

To:                              Bucharest Stock Exchange (BSE)
                                    London Stock Exchange (LSE)
                                    Romanian Financial Supervisory Authority (FSA)
 
Current report in compliance with the Law 24/2017 on issuers of financial instruments and market operations, the Romanian Capital Market Law no. 297/2004, FSA Regulation no. 5/2018, and the Bucharest Stock Exchange Code
Report date: 18 December 2020
Company name: Societatea Energetica Electrica S.A. (Electrica)
Headquarters: 9 Grigore Alexandrescu Street, 1st District, Bucharest, Romania
Phone/fax no.: 004-021-2085999/004-021-2085998
Fiscal Code: RO 13267221
Trade Register registration number: J40/7425/2000
Subscribed and paid in share capital: RON 3,464,435,970
Regulated market where the issued securities are traded: Bucharest Stock Exchange (BSE) and London Stock Exchange (LSE)
Significant events to be reported: 
Waiver of trial case no. 8019/2/2017 against ANRE
Electrica informs the shareholders and investors that, on 17 December 2020, the High Court of Cassation and Justice took note of the waiver of the appeal in file no. 8019/2/2017, formulated by the undersigned and the distribution subsidiaries Societatea de Distributie de Energiei Electrice Transilvania Nord S.A. (SDTN), Societatea de Distributie de Energiei Electrice Transilvania Sud S.A. (SDTS) and Societatea de Distributie de Energiei Electrice Muntenia Nord S.A. (SDMN), admitting the appeal and canceling the appealed decision.
The object of the file is: 
a. The annulment of the administrative acts by which the requests formulated by the distribution companies for the favorable approval of the transfer of the AMR System from Electrica to the distribution branches subsidiaries were rejected, respectively: (i) the ANRE address no. 63911 dated 22.09.2017 for SDMN (ii) ANRE address no. 63910 dated 22.09.2017 for SDTN, (iii) ANRE Address no. 63912 dated 22.09.2017 for SDTS. 
b. obliging ANRE to issue administrative documents for the favorable approval of the transfer of the AMR System from Electrica to each of the above-mentioned concessionary operators, taking into account the provisions of ANRE Order no. 31/2013 on the Methodology for regulating the conditions for taking over electricity distribution capacities, taking into account the transfer requests, respectively all the elements indicated in them and taking into account the net book value of the AMR System at September 30, 2017; and 
c. obliging ANRE to make the necessary corrections on the regulated income taken into account when establishing the previously approved distribution tariffs, following the inclusion of the investment with the AMR System in the regulated base of the concession operators' assets, taking into account all the elements shown in the petition 2 of the summons. 
 
The case was registered before the Bucharest Court of Appeal in October 2017, being rejected on the merits as inadmissible, on 24.04.2018. Against this solution, Electrica and the three distribution subsidiaries filed an appeal.
 
 
Chief Executive Officer                                                                      
Georgeta Corina Popescu                                                                  
 
                                                
                                                                                    

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