Code of Ethics and Professional Conduct

General provisions

This Code of Ethics and Professional Conduct defines the values, principles and rules of professional conduct that the Personnel of Electrica S.A. and its 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 deliver long term value to shareholders by distributing and supplying electricity and providing exceptional services to customers in a safe, reliable, affordable and sustainable manner.



Electrica’s vision is to expand its leading position in the electricity distribution and supply market segments, both nationally and regionally.


Values and principles

The Code of Ethics and Professional Conduct of Electrica S.A. includes values that have been and will continue to be viable for the future success of the organization. These are the following:

1. Innovation

Through continuous development of business practices, know-how and technology, Electrica S.A. aspires to achieve exceptional performance and to maintain a leading position in its field for a long term, in a sustainable manner

2. Social Responsibility

Electrica S.A will develop a social responsible business culture that includes business ethics, customer rights, economic and social equality, environmentally friendly technology, fair labor treatment, transparent relationships with the public authorities, integrity and community investment.

Electrica S.A. services are directed towards meeting all justified stakeholder requirements and expectations.

Electrica S.A. meets market needs through customer proximity, professionalism, desire for innovation and an affordable price. At the same time, the environment, its protection, and sustainable development are particularly important for Electrica S.A. The organization’s sustainable development strategy is based on the principle that respect for man and the environment are the foundation of Electrica S.A.’s identity. Electrica also encourages research and innovation to develop know-how in the field of ensuring quality and safety, of recovery and recycling of materials, of saving natural resources and of reducing the harmful effects of certain activities.

Electrica S.A is constantly looking for increasing the involvement of employees, their representatives, trade unions, and of people outside the company (creditors, consumers and investors) in the development and implementation of its social responsibility practices.

3. Integrity

Integrity, as a value assumed by an individual or an organization, means consistency between actions, values, principles and rules of law. In business, an organization is considered to have integrity if it informs the public and the stakeholders in an honest way about what it is going to do (transparency), if it does what it said it would do (consistency, predictability and verticality) and if it takes responsibility for its decisions and actions (it is both legally and socially responsible). Electrica S.A. and its Personnel forms a team with a fair and honest conduct, demonstrating consistency between actions, values, principles and rules of law.

4. Loyalty

Electrica S.A. Personnel is committed to the organization, its stakeholders and the community/society in order to achieve the objectives assumed, both personally and on behalf of the organization.

5. Responsibility

Electrica S.A. Personnel meets its obligations and takes responsibility for its own actions.

6. Objectivity

Electrica S.A. and its Personnel are impartial and do not allow their professional judgment to be influenced by bias, conflict of interests or other undue influence factors that would intervene in their professional activity.

7. Transparency

Electrica S.A. and its Personnel are engaged in an open and constructive dialogue with all stakeholders, a dialogue based on transparence, respect and professionalism.

8. Non-discrimination

Electrica S.A. and its Personnel, as well as its partners, will not discriminate against anyone regardless of race, gender, religion, sexual orientation, political affiliation or any other criteria that may form the basis of discrimination.

9. Fair competition

Electrica S.A., its Personnel and business-partners will behave in a respectful, upright and honest manner in dealing with their competitors, thereby ensuring fair and equitable competition in their field.

10. Respect

Electrica S.A. Personnel will show respect in their interactions with others, both in their professional activities and in their personal lives.

Rules of Conduct

1. General provisions

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

1.2. Every Personnel of Electrica S.A. must know, learn and act in accordance with the provisions of this Code of Ethics and Professional Conduct.

2. Definitions

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

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

Revolving door – The situation where the members and Personnel of an organization stay with that organization only a short time before moving on elsewhere, using the organization for this purpose.

Whistleblowing – The act, by a Personnel, supplier or client of Electrica S.A, 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 S.A.`s Personnel respects the Romanian Constitution and all the legal provisions of the regulatory framework applicable to its work.

Conflict of interests – The situation 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 his/her objectivity and impartiality in decision making or the timely fulfillment of the duties that fall to him/her in performing his/her position.

Personal interest – Any advantage, material or otherwise, sought or obtained by the Personnel, for himself 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.

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 in contradiction to fair practices in industry and product marketing, execution of works, as well as provision of services.

Organization – The ensemble of Electrica S.A.’s departments and its subsidiaries, as well as other entities within the group, whether or not legal entities.

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

General rules of conduct 

These rules are applicable to all Personnel, both of Electrica S.A. and its subsidiaries’, in all activities they perform for the company.

3. Compliance

3.1.Electrica S.A. performs its activity in compliance with the laws and regulations of Romania and those of any other country in which they operate.

3.2. Electrica S.A. Personnel must comply, by their acts and deeds, with regulations in their field of activity, internal rules and they must act towards implementation of laws, in accordance with their duties and professional ethics.

3.3. Electrica S.A.’s Personnel must respect and apply the principles of this Code of Ethics and Professional Conduct.

3.4. Electrica S.A. Personnel must comply with internal directives, as long as they do not interfere with the law, best practices and standards that Electrica S.A. undertook to respect.

3.5. Electrica S.A. Personnel must act, as such as possible, in order not to affect the company’s image.

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

3.7. Electrica S.A. management has the obligation to elaborate and to adopt policies for, among others, each of the following elements: fraud and corruption, money laundering, whistleblowing and CSR and to evaluate their implementation, risking otherwise of being liable for non-compliance, in solidarity with directly responsible executive Personnel.

3.8. Electrica S.A. Personnel must elaborate and submit for approval the procedures for policies’ implementation, apply and monitor the implementation and periodically report to the management regarding the implementation process and the problems encountered during it.

3.9. Electrica S.A. 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.

3.10. Electrica S.A. management is responsible for adopting policies and measures to ensure the performing of activities in compliance’s parameters.

3.11. Electrica S.A. Personnel is accountable for nonconformities within the operations they took part in, both to the external and the internal regulatory framework.

4. Correct information

4.1. Electrica S.A. Personnel correctly and completely informs the public regarding all specifications of their services.

4.2. Electrica S.A. 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.

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

5. Fair competition and antitrust clause

5.1. Electrica S.A. undertakes not to participate in:

5.1.1. Concerted practices such as cartels or agreements with competitors

5.1.2. Agreements limiting relations with suppliers or customers

5.1.3. Misuse of dominant position, both on the market that holds this position and those related.

5.2. Electrica S.A. does not participate through its representatives to any form of (direct/indirect) contact between companies, which has as object or effect to influence the market behavior of an actual or potential competitor, neither to disclose its own behavior decided or planned to be adopted on a market, to such a competitor. If a representative of Electrica S.A. notices that in 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 to be put down in writing.

6. Fighting corruption

6.1. Electrica S.A. Personnel must not use the attributions of their position for purposes other than those relating to fulfillment of professional duties.

6.2. Electrica S.A. management must elaborate a zero tolerance policy regarding corruption and fraud; the policy must be periodically revised.

7. Avoiding Conflicts of Interest

7.1.      Electrica S.A. 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.

7.2. Electrica S.A. Personnel must not be influenced by personal interests, including, to his best knowledge, the interests of his/her 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.

7.3. Electrica S.A. Personnel must avoid any situation that involves or may generate antagonism between the company’s interests and own interests, including, to his best knowledge, the interests of his/her spouse, ascendants, descendants, relatives, next of kin up to the fourth degree or any other third party, respecting, at the same time, the legal provisions and internal procedures relating to conflict of interest that are to be developed.

7.4. Electrica S.A. 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 when those act in the interest of Electrica S.A.

7.5. The 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 department as soon as it is observed and, in the case of the board members and the managers, the relevant corporate legal provisions should be also considered.

7.6. Where the Personnel of Electrica S.A. is involved in a conflict of interest, the management of Electrica S.A. must analyze and resolve the situation with the relevant department.

7.7. Electrica S.A. Personnel involved in decision-making processes must complete a declaration of interest or a sworn statement which reflects that the person is not involved in any conflict of interests and send it to the ethics and compliance department. Declarations of interest will be updated and resent at the beginning of each year or whenever there is a relevant change in the situation of the Personnel or member of the organization.

8. Using lobbyists

8.1. Electrica S.A. and its Personnel shall refrain from using persons who are expected to exert an improper influence over a decision-maker, in order to promote Electrica S.A.`s interests. Electrica shall also refrain from promising, giving or offering, directly or indirectly, any undue advantage to persons that exert or might exert such improper influence over a decision-maker.

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

9. Funding of political parties

9.1. Electrica S.A. 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 S.A. will not publicly support a candidate or a political party in the election.

9.2. Electrica S.A. Personnel is not prohibited to sympathize or be part of the legally constituted political parties, as long as their political concerns do not affect professional performance and political propaganda is not made at work.

10. Protecting Company Assets

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

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

10.3. In case of termination of individual contracts, Personnel is required to return what is rightfully owned by the company, including documents (both on paper and in electronic format).

10.4. Intellectual property of the company will be protected by the Personnel.

11. Equality and diversity

11.1. Electrica S.A. respects and guarantees equal and non-discriminatory treatment in relation to Personnel, business partners, collaborators and customers.

11.2. In performing their attributions, Electrica S.A. Personnel has 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 not to discriminate on grounds of nationality, sex, origin, race, ethnicity, disability, age, religion or political beliefs.

12. Giftsandprotocol expenses

12.1. Electrica S.A. Personnel does not request or accept gifts, services, favors, invitations or any other advantages for personal interest, family, parents, friends, etc., which may affect their impartiality in exercising their attributions.

12.2. In case Electrica S.A. Personnel receives gifts while performing their attributions, they have the obligation to declare any gift. The gifts exceeding the amount of 50 Euro will be written down in a special public register. After registration, gifts will be left in Electrica S.A.’s use.

12.3. Expenses to attend conferences and seminars where Personnel participates as representatives of the company, will be reimbursed by the company, through internal company procedures.

13. Confidentiality

13.1. The Personnel and Electrica S.A. agree that, for the duration of the individual contracts and after its cessation, to not transmit data or information they have gained knowledge of during the execution of the contract, respecting the condition established through internal regulation, collective employment contracts or individual contracts. Exceptions to this rule are only complaints regarding facts which are not in compliance with law, which are submitted to the competent authorities.

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

13.3. It is forbidden to disclose information acquired during professional activities that might be used to affect the fair competition within the procurement procedures.

13.4. Personnel must respect the confidentiality of information acquired during professional activities and must not disclose them for any personal purpose, directly or indirectly, to a third party. This information is property of Electrica S.A. and cannot be disclosed to persons outside the company.

13.5. The obligation of confidentiality continues after the termination of the contractual relationship between the Personnel and Electrica S.A, in accordance with the relevant legal framework and the working contract, were applicable.

13.6. It is forbidden for the Personnel of Electrica S.A. to use the information obtained during their activity for personal purpose or in a way that could be against the law or to the detriment of the legitimate and ethical objectives of the organization.

13.7. Electrica S.A. 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 which don’t allow access to third parties.

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

14. Harassment

14.1. Electrica S.A. Personnel must have decent and adequate attire.

14.2. Abuses, threats, intimidation or physical, verbal or sexual harassment are not tolerated.

15. Money Laundering

15.1. Electrica S.A. will 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.

16. Transparency

16.1. 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.A. Personnel acts based on principles of transparency, respect, as well as concern for the company’s image.

16.2. Electrica S.A. 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 S.A. and mass media benefits from the mutual respect of the role and obligations of the parties as well as the requirements of commercial confidentiality.

16.3. Electrica S.A. will publish information about the company’s wage policy, respecting the confidentiality of personal data of its Personnel.

16.4. All kind of information requests received by Electrica S.A. from media or third parties are redirected to the Communication Department of Electrica S.A.

16.5. Information offered by Electrica S.A. 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.

16.6. General information is available on the website

Specific clauses 

17. Relation to Personnel, including selection and evaluation

17.1. Electrica S.A. Personnel must have a decent behavior, 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 favorable working environment.

17.2. Electrica S.A. must ensure a working environment favorable to team work and actively promote the values of this Code of Ethics and Professional Conduct.

17.3. Electrica S.A. Personnel must promote relations based on responsibility, mutual respect, collaboration and professional support.

17.4. Electrica S.A. management should be an inspiring role model for ethical conduct and promote an organizational environment, where the organization’s values, policy and ethical standards and known and respected.

17.5. Within Electrica S.A., 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.

17.6. Electrica S.A. must use correct practices for recruitment, which will 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 and evaluation of the staff.

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

17.8. Electrica S.A. 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.

17.9. Electrica S.A. must use ethical evaluation standards in its Personnel policies.

17.10. When a divergence of views or a dissention arises between two or more members of the Personnel of Electrica S.A., it is recommended for the involved persons to analyze the problem and settle it by amiable means.

17.11. When the situation cannot be settled amiably by the parties concerned, the case is referred to the organization’s department for ethics, which will mediate the situation.

18. The relation to the shareholders

18.1. In its economic activities, Electrica S.A. respects the legal provisions and targets the following objectives:

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

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

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

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

19. Relation to the authorities

19.1. Through its Personnel, Electrica S.A. ensures its collaboration with local and central authorities, and other entities, on principles of fairness and transparency, which do not compromise the independence and economic goals of the company and respects the behavior principles and the values of this Code of Ethics and Professional Conduct.

19.2. In dealing with authorities, Electrica S.A.’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.

19.3. Electrica S.A. will respond jointly with other companies in its field to any pressure of corruption, any extortion of funds or any illegal action of obstruction by the government or localauthorities .

20. The relation to the business partners

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

20.2. Electrica S.A. bases its relationships with partners and customers on legal, effective and fair practices, building long-term relationships with clients, proving its value and integrity.

20.3. Electrica S.A. Personnel must:

20.3.1. Know very well the services that the company offers, particularly the relevant advantages and benefits for each business partner and client;

20.3.2. 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;

20.3.3. 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;

20.3.4. Not treat business partners and customers preferentially, supporting some of them at the expense of others, based on friendship, sympathy, etc.;

20.3.5. Give equal treatment to all business partners and customers and to follow the rules strictly.

20.4. Electrica S.A. is fiscally responsible towards society and undertakes to implement programs to combat tax evasion in the organization and to include appropriate clauses in commercial relations with suppliers, business partners and sales companies.

20.5. Electrica S.A. uses a quality clause in commercial contracts with suppliers and business partners, which enables the characteristics of goods and services used in the production of goods, performance of work or provision of own services to be  published on the website, if necessary.

20.6. Electrica S.A. uses clauses of integrity and transparency in all its business relations with public and private entities.

20.7. Electrica S.A. will include in its contracts with their business associates a clause that implies their obligation to comply with the provisions of this Code.

20.8. The Personnel representing Electrica S.A. in international organizations, conferences, seminars and other international activities is required to promote a positive image of the country and the company they work for.

20.9. Traveling abroad, Personnel of Electrica S.A. 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 of Ethics and Professional Conduct.

20.10. Electrica S.A. approaches an objective attitude regarding relations of matters of concern of their business partners and clients.

21. The relation with the community

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

21.2. Personnel of Electrica S.A., continuously monitors compliance with predetermined quality levels, customer perception about the quality and also the degree of client’s satisfaction according to their needs in relation to rendered services.

21.3. Electrica adheres to sustainable development principles.

21.4. Electrica S.A. Personnel complies with the current legal regulations, are aware of their responsibility towards the environment and participate to the environmental performance and also to a sustainable development.

21.5. Electrica S.A. assumes obligations in mend all negative consequences of work that could not be avoided, while starting programs in order to prevent such similar risks.

21.6. Electrica S.A. is concerned about educating, raising awareness, training and motivating its Personnel for creating an environmental corporate culture.

21.7. Electrica S.A. undertakes that any activity generating income will help social and economic development of communities on medium or long term, in a concrete and evaluable manner.

21.8. Electrica S.A. develops, adopts and implements programs that include social responsibility through participatory processes with their social partners as well as other stakeholders.

21.9. Electrica S.A. develops policies that include regeneration of used resources and publishes annual reports containing the results of sustainable development policies.

21.10. Electrica S.A. publishes annual reports regarding energy efficiency and / or the results of development of alternative energies.

21.11. Electrica S.A. uses clauses that assure a sustainable development policy in its commercial relations with suppliers and other business partners.

21.12. Electrica S.A. adopts common priorities for cooperating with the trade unions or NGO’s. 

Clauses on implementing the Code 

22. The implementation of the Code of Ethics and Professional Conduct

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

22.1.1. For the existing Personnel the hierarchical leaders will communicate the provisions of this Code once it has entered into force;

22.1.2. For the new Personnel, the human resources department will communicate the provisions of this Code, before signing the contract;

22.1.3. For all Personnel this Code shall become part of their agreement with Electrica S.A., irrespective of the legal nature of this agreement.

22.2. This Code will be brought to the attention of all Personnel through training, publication, dissemination and also by displaying the mission, vision and values of Electrica S.A.

22.3. Any change that occurs in the content of the Code of Ethics and Professional Conduct is subject to informing the Personnel  through its rightful procedure mentioned in point 22.1.

22.4. Electrica S.A. publishes information on the implementation of the values and principles of integrity and commitment to transparency adopted in accordance with the Romanian society, in a separate section, of its Annual Activity Report.

23. The Ethics Department

23.1. After the adoption of the Code of Ethics and Professional Conduct, Electrica S.A. will set-up a special ethics and compliance department or hire an ethical advisor for making it operational.

23.2. The tasks of this department will be to develop, implement, monitor and improve policies and procedures related to the Code of Ethics and Professional Conduct and also to develop an independent mechanism for analyzing the compliance with the commitments set out in this Code.

23.3. In case contracting an ethical advisor is not possible, this task will be taken over by a member of the organization explicitly appointed for this. This solution can be applied only for a limited period of one year, afterwards becoming mandatory the provisions at 23.1.

24. Whistleblowing

Electrica has adopted and implemented a whistleblowing policy.

The policy is based on the principles laid down in this Code of Ethics and Professional Conduct.

25. Liability and Sanctions

25.1. The Code of Ethics and Professional Conduct can be accessed on the Internet from the organization’s website –

25.2. 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.

25.3. 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, administrative investigations will be carried out, as required by the law, by a Disciplinary Committee.

25.4. Any ethical problem that has occurred within the organization will be communicated to ethics and compliance department, which will handle the case.

25.5. An “integrity warning hotline” will be established. This line can be managed by the ethics and compliance department or it may be an outsourced service.

25.6. Cases of misconduct and their rightful measures will be communicated to Personnel, by protecting the identity of involved persons.

25.7. Compliance with this Code of Ethics and Professional Conduct is a mandatory condition for all Electrica S.A`s Personnel, including the delegated and seconded Personnel of the company.

25.8. This Code of Ethics and Professional Conduct will enter into force once it is approved.

25.9. The provisions of this Code of Ethics and Professional Conduct will be supplemented with applicable provisions of the existing legislation. 

Legal grounds 

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

  • The Standards of the European Bank for Reconstruction and Development on corporate practices
  • The United Nations Convention against Corruption
  • Directive 2005/60 / EC of the European Parliament and of the Council from 26 October 2005 on prevention of using the financial system for money laundering or any terrorist financing.
  • Directive 2013/34 / EU of the European Parliament and of the Council from 26 June 2013 regarding the annual financial statements and other related reports of certain types of companies, amending Council Directive 2006/43 / EC and of the European Parliament and repealing Directives 78/660 / EEC and 83/349 / EEC
  • Directive 2014/95 / EU of the European Parliament and of the Council from 22 October 2014 amending Directive 2013/34 / EU regarding the diversity and non-financial disclosure by certain enterprises and large groups
  • Law no. 53/2003, from the Labor Code, amended and supplemented;
  • The Collective bargaining agreement from Electrica S.A. etc.;
  • Minister of Public Finance no. 946/2005 approving the Internal Control Code, including the standards of management / internal control to public entities and developing management control systems, as amended and supplemented (Standard 1 – Ethics and integrity)
  • The rules of organization and rules of functioning of Electrica S.A. etc.;
  • The Procedure “Book”, containing the internal rules of Electrica S.A.