Code of Ethics and Professional Conduct

General provisions

This Code of Ethics and professional conduct defines the mission, values, principles and rules of professional conduct that the Personnel of Electrica (Electrica S.A. and subsidiaries) must comply with and apply in their activity within the organization, in line with the values and goals of the company.



Electrica’s mission is to ensure energy anywhere, anytime, to anyone. We bring energy where people make their dreams come true.

The purpose of this Code of Ethics and Professional Conduct is that of promoting the ethical values and principles of the company, of creating a culture of integrity and an ethical work environment at the level of Electrica Group, in alignment with the vision of the company, which urges its personnel to act professionally, to the best interest of the organization. By the current Code of Ethics and professional conduct we emphasize discouraging immoral practice, the breach of legal provisions and of internal regulations of the company. 



Electrica S.A. vison is to ensure excellence and robustness in traditional areas, as well as innovation and flexibility amidst new challenges. As per the European Union strategy with respect to energy system integration, Electrica wants to be a promoter of electrification and green energy.

Also, Electrica, a market leader in electricity distribution and supply shall continue its development both nationally and internationally. Expansion to ancillary areas and obtaining synergies with the areas where it already activates are part of the key objectives of Electrica Group.


Values and principles

The Code of Ethics and professional conduct of Electrica defines the values and principles adopted and promoted within the company, which are critical to development of a culture of ethics, integrity and sustainability. These were and will continue to be the foundation of our company’s success. They are the following:

1. Trust

We are the partner you can rely on now and in the future. The trust of business partners, our own personnel and of other stakeholders is a key component of the organization’s development. Electrica and its personnel form a team with a fair and honest conduct, that demonstrates integrity through the convergence between actions, values, principles and rules of law.

Electrica and its personnel are entertaining open and constructive dialogue with all stakeholders, a dialogue based on respect and professional attitude. By respecting ourselves we also respect our partners. Electrica Personnel shows respect in all interactions generated by their professional activity.

Electrica and its personnel behave responsibly, with integrity and transparency in relation to its competitors, partners and other stakeholders, ensuring fair and equitable competition and in its area of activity, non -discriminatory treatment and a conduct based on impartiality.

Electrica, its personnel, as well as its partners do not discriminate against anyone, irrespective of race, gender, religion, sexual orientation, political affiliation or any other criteria that may form the basis of discrimination.

2. Competence

We build skilfully. We are proud of the role that our work gives us in society.

Through a continuous development of business practices, know-how and technologies, Electrica aspires to exceptional performance and wants to strengthen its leading position in its field of activity in the long term and in a sustainable way.

All tasks and duties of Electrica’s Personnel are performed with maximum professionalism, effectiveness and efficiency, according to the competencies held and knowing the applicable legal and internal regulations.

3. Safety

We pay attention to the safety of our employees, collaborators and the communities in which we work. Their safety and ensuring continuity in electricity supply are paramount for Electrica.

In this regard, the staff and partners of the Electrica group have an obligation to comply with all measures defined by the organization in order to increase the level of security of its employees and communities, all other stakeholders being encouraged to comply with them for their safety.

4. Sustainability

Sustainability is Electrica’s business model. Our solutions are long-term and friendly to the environment and people. Globally, humanity is facing the challenge of finding such new affordable solutions, and Electrica Group aims for sustainable development by reducing the carbon footprint, protecting biodiversity, responsible waste management, so as to respect the directions set by the Green Deal environmental pact.

Electrica will develop a culture of social responsibility based on business ethics, respect for consumer rights, social and economic equity, environmentally friendly technologies, fairness in labour relations, transparency towards public authorities, integrity and investment in the community. Electrica focuses on meeting all the requirements and justified expectations of stakeholders.

The Electrica Group encourages research and innovation to develop the know-how in the field of ensuring the quality and safety of its services for customers, partners, the environment and future generations, saving natural resources and the reduction of any harmful effects of its activity.

Electrica is constantly concerned with increasing the level of involvement of its employees, its representatives, trade unions and those outside the organization (partners, consumers, investors) in the development and implementation of its practices in the field of social responsibility.


Implementation norms

  1. General provisions

1.1. The rules of conduct are compulsory for all Personnel, all hierarchical levels of Electrica Group’s organizational chart, as well as Personnel that has been seconded or delegated to its companies.

1.2. The entire personnel of Electrica Group must know, learn and act in accordance with the provisions of this  Code of Ethics and professional conduct.


  1.  Concepts used

Corruption– The abuse of power entrusted through the attributes of a held position, by resorting to illegal means, in order to satisfy direct or indirect, personal or group interests.

Facilitation payment – An additional payment made to determine a person to correctly fulfil his/her professional duties, which may lead to preferential treatment.

Whistleblowing – The act, by a Personnel, supplier or client of Electrica of revealing instances of mismanagement, violations of the internal norms of ethics, business conduct or policies and procedures, corruption or material breaches of the applicable legislation, national or European.

Compliance – The compliance of the organization with the provisions of the regulatory framework applicable to its activity, with its own rules and standards, as well as with the codes of conduct, the professional codes, and the standards recognized on the related market or in the related industry. Electrica Group’s Personnel respects the Romanian Constitution and all the legal provisions applicable.

Conflict of interest – The case in which the Personnel has a personal interest, direct or indirect, that is contrary to the interests of the organization, so that it affects or could affect their objectivity and impartiality in decision making or the timely fulfilment of their duties applicable to their position.

Personal interest – Any advantage, material or otherwise, sought or obtained by the Personnel, for themselves or for others, directly or indirectly, by using the reputation, influence, facilities, relationships, and information they have access to in the performance of their work duties.

Disciplinary misconduct – Any act committed, with guilt, regarding the performed activity, consisting in action or inaction, through which legal provisions and any other internal regulations or management directives issued by the organization’s management were broken.

Unfair competition – Any act or deed contrary to fair practices and to the general principles of good faith and which cause or may lead to damages to any market players.

Organization – the ensemble of Electrica structures, companies in its portfolio as well as any other entities in the group, which are legal entities.

Personnel  – Management, employees and any other persons working within the organization or on its behalf, with or without decision-making power, paid or unpaid, regardless of the legal form of the agreement they have with the company or any of its components.


  1. General rules of conduct

These rules are applicable to the entire personnel of the organization in all activities performed for, within or on behalf of the organization.

3.1. Compliance

3.1.1. Electrica performs its activity in compliance with the laws and regulations of Romania and those of any other country in which they operate. Electrica personnel must act to apply legal provisions, as per their responsibilities, in accordance with  professional ethics.

3.1.2. Members of the Board of Directors exercise any act in relation to the management of the company in its best interest, within the limits of their rights bestowed upon them by the management contract and of the legal provisions in force, abiding by the values and policies applicable in Electrica Group.

3.1.3. Electrica’s Personnel must act in order not to affect the company’s image.

3.1.4. Electrica’s management must respect the company’s values and policies and coordinate its activity in compliance with them. 

3.1.5. Electrica has the obligation to elaborate and to adopt policies for, among others, each of the following elements: fraud and corruption, money laundering, whistleblowing, conflicts of interest avoidance and CSR and to evaluate their implementation.

3.1.6. Electrica’s Personnel must elaborate and submit for approval standards, procedures,  instructions and any other documents needed for the application of policies, apply and monitor their implementation and regularly report to the management regarding the implementation process and the problems encountered during it.

3.1.7. Each Company is responsible for all necessary diligences to predict and mitigate the negative effects of the nonconformities resulting from the acts of its Personnel when acting on its behalf or in relation to its activity.

3.1.8. . Electrica’s management is responsible for adopting policies and measures to ensure the performing of activities under compliance parameters.

3.1.9. Electrica’s Personnel is accountable for nonconformities within the operations they took part in, both to the external and the internal regulatory framework.

3.2. Correct information

3.2.1. Electrica’s Personnel correctly and completely informs the public regarding all specifications of their services.

3.2.2. Electrica’s  Personnel is attentive to the real needs of the client and offer competitive solutions for both their present needs and future needs, without affecting fair competition.

3.2.3. Electrica provides a space for dialogue and publication of opinions of business partners, clients and other stakeholders on the company’s website.

3.3. Fair competition and antitrust clause

3.3.1. Electrica  undertakes, through the companies in its group, not to take part in:

  • Concerted practices or agreements which have as purpose or which result in hindrance, restriction or denaturation or competition on the markets where it carries out its activity;
  • Misuses of dominant position, both on the market where its holds such a position, as well as on related markets.

3.3.4. The companies of Electrica Group, by their representatives, must not engage in any form of  (direct/indirect) contact between companies, which has as object or effect influencing the market behaviour of an actual or potential competitor, or which might have as purpose disclosing the behaviour that the company or its competitor decided or intends to adopt on a market. If a representative of Electrica Group (or a company within it) notices that during a business meeting, its subject is related to the establishment of such practices, he or she will denounce to participants the character of the meeting and will request that the reason for his/her leaving the meeting be put down in writing.

3.4. Fighting corruption

3.4.1. Electrica’s Personnel must not use the attributions of their position for purposes other than those relating to fulfilment of professional duties.

3.4.2. Electrica’s management must elaborate a zero tolerance policy regarding corruption and fraud; the policy must be periodically revised.

3.5. Conflicts of interest avoidance

3.5.1. Electrica’s Personnel must not engage, directly or indirectly, in business partnerships with operators, individuals or legal entities which would affect the proper, honest and conscientious performance of professional duties.

3.5.2. Electrica’s Personnel must not be influenced by personal interests, including, to their best knowledge, the interests of their spouse, ascendants, descendants, relatives, next of kin up to the fourth degree or any other third party, or pressures of any kind, in carrying out their professional duties.

3.5.3. Electrica’s Personnel must avoid any situation that involves or may generate antagonism between the company’s interests and own interests, including, to their best knowledge, the interests of their spouse, ascendants, descendants, relatives, next of kin up to the fourth degree or any other third party, abiding by, at the same time, the legal provisions and internal procedures related to conflict of interest.

3.5.4. Electrica’s Personnel must avoid any direct or indirect involvement in any kind of activities, associations or investments which influence or can influence the individual decisions of any Personnel member,  when he/ she acts in the interest of Electrica.

3.5.5. Electrica’s Personnel must refrain from any conflict of interest. Any possible conflict of interest must be declared through a written statement to the ethics and compliance entity as soon as it is noticed and, in the case of the board members and the managers, the relevant legal provisions should be considered.

3.5.6. In case the Personnel of Electrica is involved in a conflict of interest, the management of Electrica must analyse and solve the situation with the relevant organizational entity  (o.e.) which has duties and competences in the area of ethics and compliance.  

3.5.7. Electrica’s Personnel involved in decision-making processes must fill in a declaration of interest or an affidavit  stating that they are in no conflict of interest situation and submit it to the organizational entity which has duties and competences in the area of ethics and compliance. The declaration of interest is updated and re-submitted at the beginning of each year (by March 31st) or in case any relevant change occurs in the status of the personnel or the respective member of the organization.

3.6. The use of lobbyists

3.6.1. Electrica and its Personnel shall refrain from using natural or legal persons who are expected to exert an improper influence over a decision-maker, in order to promote the organization’s interests. The organization shall also refrain from promising, giving or offering, directly or indirectly, any undue advantage, benefit or facility, with the above-mentioned purpose,  to persons that exert or might exert such improper influence over a decision-maker.

3.6.2. Electrica Group shall promote its legitimate interests in relation to any decision-maker by using, among others, transparent public participation in the decision making process.

3.7. Support given to political parties or candidates for public elective positions  

3.7.1. Electrica Group undertakes not to directly or indirectly finance political parties in Romania as a collective obligation enforceable against all political forces. At the same time, Electrica shall not publicly support a candidate or a political party in the election.

3.7.2. Both during the period prior to the election campaign, as well as during it, the Organisation does not allow use of its companies’ assets  used for any electoral purposes (including posters, mounting banners/  billboards on the installations managed by the company or by using its machinery).

3.7.3.  Electrica’s Personnel is not prohibited to sympathize or be part of legally constituted political parties, as long as they do not use the organization’s resources in manifesting their political pursuits, as long as their political concerns do not affect professional performance, the image of the organization and political propaganda is not made at work.

3.8. Protecting the Organization’s assets

3.8.1. Electrica’s Personnel has the obligation to protect company assets and resources and prevent their damage, vandalism or their misuse and / or unauthorized use. However, it is forbidden to use Electrica’s assets and resources for personal benefit.

3.8.2. Any waste, incorrect or unauthorized use, destruction or theft of the company’s assets must be immediately communicated to the higher level or management.

3.8.3. Upon termination of the contract with the Organization, irrespective of its legal form (management contract, mandate agreement, Individual Labour Agreement) the personnel is bound to return what rightfully belongs to the Organization, including documents (both hard copy and electronic).

3.8.4. Intellectual property of the Organization will be protected by its Personnel.

3.9. Equality and Diversity

3.9.1. Electrica by means of all companies within the Group respects and guarantees equal and non-discriminatory treatment in relation to Personnel, business partners, collaborators and customers.

3.9.2. In performing their attributions, Electrica’s Personnel have the obligation to behave professionally and to ensure transparency, impartiality and effectiveness, required to earn and maintain the trust of business partners, collaborators and clients. They are obliged to ensure equal treatment and to refrain from discrimination on grounds of nationality, gender, origin, race, ethnicity, disability, age, religion or political beliefs or any other criteria which might constitute grounds for discrimination.

3.10. Gifts and protocol expenses

3.10.1. Electrica’s Personnel do not request or accept gifts, services, favours, invitations or any other advantages for personal interest, family, parents, friends, etc., which may affect their impartiality in exercising their duties.

3.10.2. In case Electrica’s Personnel receive gifts while performing their attributions, they have the obligation to declare any gift. The gifts exceeding the amount of 50 Eur each  will be registered down in a special register, which will be placed at the disposal of stakeholders upon request. After registration, gifts will be assigned to the Organization for use.

3.10.3. Expenses to attend conferences and seminars where Personnel participates as representatives of Electrica, will be reimbursed by the company (the company the representative has a contract with), as per internal company procedures.

3.11. Confidentiality

3.11.1. Electrica and its Personnel agree that, throughout the validity of the contract  (management/ mandate/ employment contract) and after its cessation for the period mentioned in the contract, on a case by case basis, not to disclose or disseminate to third parties, by any means, data or information they have gained knowledge about during the execution of the contract, as per the conditions of internal regulations, collective labour agreement or individual labour agreements. Exceptions to this rule are only acts  performed with the purpose of abiding by legal provisions, for instance  information as regards acts which are contrary to the law, submitted to competent authorities.

3.11.2. It is forbidden to disclose personal data regarding Personnel without their consent, except when there is a legal requirement.

3.11.3 The use of information obtained by Electrica’s Personnel during the course of their professional activity  for personal benefit or in a way that might be contrary to the law or harming the legitimate and ethical goals of the company.

3.11.4. Electrica guarantees the confidentiality of information available to it, and the processing of this information is carried out through methods which ensure maximum transparency for interested parties and protection against third parties’ access, not allowing access by third parties.

3.11.5. The data of its clients will not be transmitted to third parties, with the exceptions laid down by the law.

3.12. Human dignity and decent behaviour

3.12.1. Each person is unique and their dignity must be respected. Every person is guaranteed the free and full development of his personality. All staff must be treated with respect for their way of life, culture, beliefs and personal values.

3.12.2 In relation to colleagues, management, collaborators, partners, etc., no language, elements of nonverbal / paraverbal communication (intonation, facial expressions, gestures) or actions that would harm the person’s dignity or represent attacks on the person shall be used. Maintaining an appropriate working environment requires mutual respect and cooperation.

3.12.3 Electrica personnel must adopt a decent attire and decent behaviour in their professional activities.

3.12.4. Abuse, threats, intimidation, marginalization or harassment of any kind are not tolerated.

 3.13. Money laundering

3.13.1. Electrica  shall not take part in money laundering activities and commits to elaborating and implementing policies and mechanisms for combating money laundering, according to European and international directives and standards, as well as national and international legislation in force.

3.14. Transparency

3.14.1. The organization acknowledges the fundamental role of media and communicates to the public transparently, through all means of communication. In relation to the civil society, Electrica’s Personnel act based on principles of transparency, respect, as well as concern for the company’s image.

3.14.2. Electrica and its Personnel, respond promptly, completely and without discrimination to the public’s need for correct information, as well as to requests for public information. The relation between Electrica and mass media benefits from the mutual respect of the role and obligations of the parties as well as the requirements of commercial confidentiality.

3.14.3. Electrica shall publish information about the company’s remuneration policy, respecting the confidentiality of personal data of its Personnel.

3.14.4. Information offered by Electrica is explicit, exact, transparent and complete with regard to content, in order to allow the addressees to make decisions with full knowledge of all the facts.

3.14.5. General information is available on the website


  1. Specific clauses
4.1. Relation with the Personnel, including its selectin and evaluation

4.1.1. Electrica’s Personnel must have a decent behaviour, show respect in relation to superiors, colleagues, subordinates as well as the organization’s clients, for the daily activities to be carried out in a favourable working environment.

4.1.2. Electrica as a group, and each company within it must ensure a working environment favourable to teamwork and actively promote the values of this Code of Ethics and Professional Conduct.

4.1.3. Electrica’s Personnel must promote relations based on responsibility, mutual respect, collaboration and professional support.

4.1.4. Electrica’s management should be an inspiring role model of ethical conduct and must promote an organizational environment where the organization’s values, policy and ethical standards are known and respected.

4.1.5. Within Electrica group and its companies, the channels of communication must be open both from management to employees, as well as from employees to management, communication being based on trust and mutual respect between the organization’s Personnel at all hierarchical levels.

4.1.6. Electrica Group and the companies within it must use ethical standards of evaluation within personnel policies, implemented by fair hiring practices which shall include objective evaluation, avoiding conflicts of interests and bribe, as well as forbidding any form of discrimination in the decision-making process with regard to the selection, evaluation, remuneration, development and training of the personnel.  

Decisions concerning recruitment and promotion must be taken only to the advantage of the organization, based on professional training assessment, achievements, personal conduct of the candidate, in compliance with the legislation in force.

Electrica Group must offer equitable treatment to all its Personnel, including equal pay for equal work, and must provide them with support for improving their skills by continuous professional training.

4.1.7. When a divergence of views or a dispute arises between two or more members of the Personnel of Electrica, it is recommended for the involved persons to analyse the problem and settle it amicably. When the situation cannot be settled amicably by the involved parties, the case is referred to the organizational entity  which has duties and competences in the area of ethics and compliance, which shall analyse the situation and propose solutions to the parties; also, requesting an opinion from a labour law expert is possible.  


4.2 Shareholders relations

4.2.1. In its business activities, Electrica abides by the legal provisions and targets the following objectives:

i. Maximization of the investment value for shareholders, by ensuring a safe and durable development of the company.

ii. Ensuring quality services for its clients, by respecting the quality standards of Electrica and by continuously improving the services provided.

iii. Controlling the risks which arise from the activities of Electrica through policies and mechanisms developed based on the best practices in the field.

iv. Reconciling the interests of the shareholders with particular attention to clients, small investors and the community within which the organization operates, in order to ensure a durable development for the organization, through its social responsibility policies and practices.


4.3. Authorities relations

4.3.1. Through its Personnel, Electrica ensures its collaboration with local and central authorities, and other entities, abiding by principles of fairness and transparency, which do not compromise the independence and business goals of the company and respects the behaviour principles and the values of this Code of Ethics and Professional Conduct.

4.3.2. In dealing with authorities, Electrica’s Personnel will refuse any requests for assistance or mediation suggestions that might affect the legal performing of certain activities within the company, including those made by offering undue advantage in exchange.


4.4. Business partners relations

4.4.1. Electrica, through its Personnel, promotes open and honest competition, by carrying out contractual relationships honestly and legally.

4.4.2. Electrica Group and the companies within it base  their relationships with partners and customers on legal, effective and fair practices, building long-term relationships with clients, proving Electrica’s value and integrity.

4.4.3. Electrica’s Personnel must:

i. Act in accordance with the provisions of this Code and the legislation in force in relations with business partners and customers and not try to gain personal advantage by using the confidential information which they receive;

ii. Promote the values and ethics of Electrica S.A. in relationships with partners and customers, citing, whenever necessary, the Code of Ethics and Professional Conduct and the professional standards of the company;

4.4.4. Electrica uses integrity and transparency covenants in all its commercial relations with public and private entities.

4.4.5. Electrica shall include in all contract signed with its business partners a covenant regarding their obligation to abide by the provisions of this Code which are applicable, in case they did not adopt their own Code of ethics.  

4.4.6. The Personnel representing Electrica in international organizations, conferences, seminars and other international activities shall refrain from any actions, comment etc. which might have a negative impact  upon the image of the organization.

4.4.7. Traveling abroad, Personnel of Electrica is required to have proper conduct respecting protocol rules and the laws and customs of the host country, as long as they do not contradict the national law and this Code.

4.4.8. Electrica has an objective attitude regarding relations of matters of concern of their business partners and clients.


4.5. Relation with the community and the environment

4.5.1. Electrica, through its representatives, promotes an open and continuous dialogue with customers, public authorities, non – governmental organizations and other stakeholders regarding general environmental problems.

4.5.2. The organization permanently monitors compliance with pre-established quality levels, as well as customers’ perception about the quality and also the degree of customer satisfaction, according to their needs.

4.5.3. Electrica and its Personnel adhere to sustainable development principles and publish data on a yearly basis with respect to sustainability performance.  

4.5.3. Electrica as a group and its companies undertake obligations to correct all negative consequences of work that could not be avoided, while starting programs in order to prevent similar risks.

4.5.4. Electrica is focused on educating, raising awareness, training and motivating its Personnel for creating an environmental corporate culture.

4.5.5. Electrica through its group companies, develops, adopts and implements policies and programs that include social responsibility through participatory processes with their social partners as well as other stakeholders and publishes yearly reports as regards the results of sustainable development policies.  

4.5.6. Electrica uses covenants regarding sustainable development policy/ environmental policy in its commercial relations with providers and customers.

4.5.7. Electrica adopts shared priorities in its cooperation with social partners and other NGOs.


  1. Clauses on implementing the Code
5.1. Implementing the Code of Ethics and Professional Conduct

5.1.1. The following provisions of this Code of Ethics and Professional Conduct will be formally communicated to the Personnel:

i. for the existing Personnel in the current organizational chart,  the hierarchical managers will communicate the provisions of this Code once it has entered into force;

ii. for the new employees, the human resources department, which has responsibilities in this area, will communicate the provisions of this Code, upon signing the employment documents;

iii. for the entire Personnel, this Code shall become part of their agreement with Electrica, irrespective of the legal nature of this agreement.

5.1.2. This Code will be brought to the attention of all Personnel through training, publishing it on the intranet, dissemination and will be made available to stakeholders by publishing it on the websites of companies within the Group.

5.1.3. Any change that occurs in the content of the Code of Ethics and Professional Conduct is subject to informing the Personnel  through the procedure mentioned under 5.1.1

5.1.4. Electrica group shall publish on a yearly basis information regarding the implementation of the values and principles adopted as a commitment toward the Romanian society, in a separate section of its yearly activity sustainability report.


5.2. The ethics structure

5.2.1. At the level of Electrica group, within every company, there is an organizational entity having duties and competences as regards ethics and compliance, which has been set up and is operational.

5.2.2. Its duties refer to the implementation, update and improvement of the Code of Ethics and Professional Conduct and subsequent policies, as well as to developing and implementing the mechanisms to monitor compliance with the commitments undertaken by the Organization by means of this Code.


5.3. Whistleblowing system

5.3.1. Electrica has adopted and implemented a policy related to whistleblowing. This policy focuses on reporting and managing non- compliance with the principles contained in this Code of Ethics and Professional Conduct.

5.3.2. The purpose of whistleblowing is to protect the company against ethical misconducts, fraud and any other non-compliance cases which might prejudice the company’s image, might bring commercial damage or might attract legal sanctions, affecting the prestige and profitability of the Company. Intimations and non-compliance cases may be reported by calling the following phone no. +40.316.301.543 or by using the portal


5.4. Liability and sanctions

5.4.1. Code of Ethics and Professional Conduct can be accessed on the website of the Organization, and on group intranet page.

5.4.2. Failure to comply with the Code of Ethics and Professional Conduct is considered to be a misconduct and is punishable under the provisions of laws and existing internal regulations.

5.4.3. If there are complaints, from the inside or the outside of the organization, regarding the violation of this Code of Ethics and Professional Conduct by Personnel investigations and administrative enquiries shall take place, as per the provisions of the policy regarding whistleblowing and as per the legislation in force.  

5.4.4. Ethical challenges arisen within the Organization shall be brought to the attention of the organizational entity having duties and competences in the area of ethics and compliance.

5.4.5. Cases of misconduct and their rightful measures will be communicated to Personnel, after definitive solving of that case, while protecting the identity of involved persons, by  the organizational entity having duties and competences in the area of ethics and compliance at the level of each company within Electrica group.

5.4.6. Compliance with this Code of Ethics and Professional Conduct is a mandatory condition for the entire Personnel or Electrica, including the delegated and seconded Personnel of the company, as well as for the people that might carry out their activity based on a management/ mandate agreement.

5.4.7. This Code of Ethics and Professional Conduct enters into force once it is approved.

5.4.8. The provisions of this Code of Ethics and Professional Conduct will be supplemented with applicable provisions of the existing legislation, subsequent policies defined and other internal documents disseminated within the Organization.


Legal grounds

This Code of Ethics and Professional Conduct is drafted in accordance with:

•European Bank for Reconstruction and Development standards on corporate practices;

• United Nations Convention against Corruption;

• Directive 2005/60 / EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing;

• Directive 2013/34 / EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43 / EC of the European Parliament and of the Council, and repealing Council Directives 78/660 / EEC and 83/349 / EEC, as subsequently amended and supplemented;

• Law no. 53/2003, Labour Code, with subsequent amendments and supplementations.

• The collective labour agreement at the level of Electrica S.A .;

• The internal regulations of Electrica S.A .;

• Law no. 190/2018 on measures to implement Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of individuals with regard to the processing of personal data and on the free movement of such data and repealing Directive 95/46 / EC (General Data Protection Regulation);

• ASF Regulation no. 5/2018, regarding the issuers of financial instruments and market operations;

• Law no. 24/2017, regarding the issuers of financial instruments and market operations, with subsequent amendments and supplementations;

• The provisions of the Corporate Governance Code of BVB (Bucharest Stock Market);

• Law 202/2002 on equal opportunities and treatment between women and men and the Methodological Norms for application;

• Law no. 167/2020 for the amendment and supplementation of the Government Ordinance no. 137/2000 regarding the prevention and sanctioning of all forms of discrimination, as well as for the supplementation of art. 6 of Law no. 202/2002 on equal opportunities and treatment between women and men;

• ANRE Order 5/2015 approving the Regulation on the monitoring by ANRE of the compliance programs established by the electricity distribution operators;

• Law 123/2012 on electricity and natural gas, with subsequent amendments and supplementations