Baicusi, Transelectrica: Without reorganisation, we risk importing energy in five years

Adrian Baicusi, 45, a year ago took a step few top executives dare take: shifting from the private sector to the state one. After 2009, a year of crisis, Baicusi, now running Transelectrica, a strategic company for the Romanian energy sector, says there will be economic growth domestically, but not because of some "miracles" as regards internal strategies, but especially amid the rebound of major European economies. Moreover, Transelectrica's CEO believes the times when people kept their money idle are now gone, and the time of making investments has finally come. What will be truly interesting is where the cash will go, though.

Baicusi, after having run the Romanian operations of Germany's Siemens industrial group for five years, last year decided to switch sides, thus coming at the helm of a state-owned company, Transelectrica.

According to him, 2010 will see lending restarted, as banks are now more willing to take on risks than in 2009.

As regards the energy sector, Baicusi believes energy consumption is likely to rise by as much as 3% this year from 2009, meaning that 2008 volumes will not be reached this year, either.

For the company he runs, 2010 is due to be extremely interesting as Transelectrica is ready to launch new projects. "(...) The investment budget will be similar with the 2009 one and will be part of an investment programme devised for the next five years," Baicusi explains.

Transelectrica CEO says he will continue the anti-crisis measures taken for entire company if necessary after in 2009 he cut all the unnecessary costs.

As for the project to reorganise the energy system by setting up two giant companies that should regroup most domestic generation facilities, Baicusi says this is the last chance for this field. Should this be wasted, Romania is in danger of turning from an energy exporter into an energy importer "in five years".