In the fight against Covid-19, Electrica states that they have adopted all the necessary measures so that the activity of the companies within the Group continue to be carried out under normal conditions.
Electrica issued a statement on the Bucharest Stock Exchange regarding the Covid-19 implications on their operations. The company states that they guarantee their customers who are in permanent need of the services provided by Electrica Group that they have measure plans implemented in order to ensure the continuity of activities, parameterized depending on the situation’s evolution, and that they do not anticipate significant difficulties in continuing the electricity supply.
In the fight against COVID-19, Electrica has adopted all the necessary measures so that the activity of the companies within the Group continue to be carried out under normal conditions. Ever since the beginning of the crisis the resilience plan in force at Group level has been updated promptly to respond to the exceptional situation at the national level and to limit a potential expansion of Covid-19. Also, essential activities and critical roles have been identified, staff backup has been insured and three action scenarios on escalation levels depending on the evolution of the situation in the external environment of the company have been defined, based on which a resilience plan was developed for each company within the Group.
Up to this moment, activities that involve interaction with clients and / or access to clients’ homes have been limited and the scheduled works reprioritized, in order for the scheduled interruptions in the electricity supply to be diminished.
The management states that they permanently monitor the financial performance and liquidity of Group companies on several tiers, in order to ensure the availability of the necessary funds for carrying out the activity, by analyzing the cash flow with priority, including the potential impact of the legislative changes on Group’s activities. The aim is to secure the collection of receivables from customers, the use of the banking structures for liquidity concentration implemented earlier this year, as well as the financing facilities available for the Group companies.