Yuri Razlovan
These data were made public at the General Meeting of Shareholders on May 26, 2025. And they were also recalled at the solemn meeting on the occasion of the 10th anniversary since the establishment of Termoelectrica, which took place on June 16. The general director of the company, Iurie Razlovan, in his address to the staff on this occasion, said: “Your complex and dynamic work creates reliable conditions for every resident of Chisinau to be able to rely on our energy”.
Today, the company has about 1700 employees. They provide heat to more than 500 thousand beneficiaries of the centralized heating system. Currently, Termoelectrica is structurally subordinated to the Ministry of Energy.
In this context, it is not superfluous to recall the history of the creation of Termoelectrica S.A. and the goals that were set. On the initiative of the Ministry of Economy, a reorganization project was developed by merging CHPP-1, CHPP-2 and Termocom. The Government approved this concept. The new enterprise became “Termoelectrica” SA, which also included two dozen boiler houses in Chisinau.
At that time, Termocom was a municipal enterprise and was subordinated to the city mayor’s office. But it had accumulated huge historical and current debts. In March 2014, Termocom was declared bankrupt, entering liquidation proceedings.
Within the framework of the Chisinau heat supply reform that took place ten years ago, there was talk of optimizing the structure of the new enterprise “Termoelectrica”, savings were expected by reducing the administrative apparatus and implementing modernization measures. These measures were supposed to lead to the repayment of debts, maintenance or even reduction of the heat and electricity tariff for consumers that was in force at that time.
Let’s leave tariffs alone – this is a separate conversation. But the debts continue to burden the new Chisinau heat supply structure. The structure and dynamics of all debts of “Termoelectrica” looks like this:
– as of 31.12.2023 – 3.902 billion lei;
– as of December 31, 2024 – 4,0 billion lei.
At the end of 2023, the company’s long-term debts amounted to 2.864 billion lei, increasing to 2.9 billion lei by the end of last year. The rest falls on current debts. As at the time of Termocom, the bulk of Termoelectrica’s long-term and current debts are owed to suppliers of the communal energy sector – Energocom, Moldovagaz, Apa-Canal Chisinau, Premier Energy.
