Energocom faces scrutiny over 360 million lei investment in state securities

Moldovan Deputy Ion Chicu has requested further information regarding Energocom’s placement of approximately 360 million lei into state securities (VMS). While Chicu noted that investing surplus liquidity into short-term financial instruments can be a logical financial move, he emphasized the need to clarify the maturity period of these investments.

Chicu questioned why Energocom, a company that receives state-guaranteed financing from the European Bank for Reconstruction and Development (EBRD) for natural gas procurement, held such large volumes of liquidity. He stated that if the funds were frozen for short periods, such as 91 days, the move is justifiable, but longer durations would require explanation regarding why the company did not use the funds for gas purchases instead.

In response to public scrutiny, Energocom has provided explanations regarding its gas procurement strategies and why it did not purchase the full amount of gas required for the cold season during the spring.