Romanian power distributor and supplier
Electrica, said it has filed several legal actions seeking the annulment
of certain decisions of local energy regulator, ANRE.
One legal action
seeks the annulment of an order by ANRE's president for establishing the
regulated return rate (RRR) applicable for the approval of tariffs for power
distribution services provided by concessionaire distribution operators starting
from January 1, Electrica said in a statement filed with the Bucharest Stock
Exchange on Wednesday.
Raiffeisen Bank Romania said in a note to
investors on Thursday that Electrica is suing the regulatorfor reducing the
RRRfrom 8.52% to 7.7% and rated the news as positive for the company's share
price.
Raiffeisen Bank saidthat it is hard to estimate this
action'schances of success.
"We clearly appreciate Electrica's
initiative in trying to stop the regulator to change the rules in the middle of
the game. The management has commented before that they are considering suing
the regulator and we are pleased that they indeed took action," the bank's
analysts added.
Blue chip Electrica was changing hands flat at 12.25 lei
($3.2/2.7 euro) by 0907 CET on Thursday.