Keywords: international cooperation, energy strategy, privatisation, energy market, risk management, Romania, Central and Eastern Europe, CEE countries, transition economies, financial support, energy efficiency
Risk management issues in the Romanian energy sector
Romania, a country in transition to a market economy, is associated to the European Union and has applied to become a member. It signed the European Energy Charter and is highly committed to harmonising its legislation with EU laws and regulations. In 2001, the Romanian Government approved 'The National Strategy for Development of Romanian Energy Sector' in the medium-term. The main objective of the strategy is the achievement of a competitive energy sector and an energy market harmonised with the EU, by taking into account risk problems. The energy sector in Romania has the benefit of substantial financial support from the international community: grants, loans and technical assistance programmes. An important part of these financial resources has been dedicated to energy efficiency improvement. The majority of the energy programmes were coordinated by the Ministry of Industry and Resources.