Our Codes


Complexul Energetic Oltenia S.A. is aware of its role in the Romanian society and its responsibility towards customers and business partners, shareholders, employees and the community.

The actions taken by C.E. Oltenia and its employees form the foundation concerning personal responsibility, honesty, loyalty, respect, self-determination and sustainability. Managers bear particular responsibility in this respect.

The Code of Conduct serves two main purposes:

I. encouraging every single employee to take responsibility for his or her actions, seeking to provide them with appropriate guidance;

II. outlining the principles which guide the business activities of Societatea C.E. Oltenia in this light.

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The Corporate Governance Regulation of Societatea Complexul Energetic Oltenia has been approved by the  H.CS nr. 13/26.03.2020 of the Supervisory Board.


This regulation shows the basic principles and rules of organisation and development of the business activity for each defined corporate governance structure within the company. The Company is administered in a dualist system by the Directorate under the supervision of the Supervisory Board, established in accordance with the Government Emergency Ordinance No. 109/2011 concerning the corporate governance of public enterprises.

Four committees have been established within the Supervisory Board:

• Nomination and Remuneration Committee

• Audit Committee

• Strategy and Development Committee

• Regulatory and Public Authorities Relationships Committee

The activity of the four advisory committees consists of studies and analysis with respect to decisive issues of the company, materialized by the submission of proposals to the Supervisory Board, required to adopt an optimal decision.

Complexul Energetic Oltenia promotes a policy of transparent communication between the shareholders and the management team, with the full exercise of their rights. The business activity of the company is governed by the principles of ethics and transparency.

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