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Energy & Environment
ANRE keeps energy prices at a regulated level until the year-end; SMEs are included
Thursday, May 28, 2020
ANRE issued a new draft order “for the approval of the Methodology for establishing regulated tariffs and prices applied by suppliers of last resort to final customers for the period July 1 – December 31, 2020.” The project is under public debate. Following the crisis generated by the coronavirus, ANRE ordered “the identification, as a matter of urgency, for a determined period of time, respectively until 31 December 2020, of ...
Hidroelectrica has appointed the consultant for the IPO; the value of the contract, 950,000 euro
Thursday, May 28, 2020
Hidroelectrica and STJ Advisors Group Limited signed the contract for the provision of consulting services for the “Equity Advisor” capital market, the winning bid being worth 950,000 euros. According to a statement from Hidroelectrica, the contract was signed on Tuesday, May 19, and the services offered by STJ Advisors Group Limited aim at training and assistance in carrying out the Hidroelectrica IPO. The contract was awarded following a ...
Coal production in Valea Jiului, at a historic minimum
Thursday, May 21, 2020
The quantity of coal taken from the mines in Valea Jiului dropped at about 650 tons per day, which means a quarter of what was produced at the beginning of the year, as all four exploitations in the Energy Unit Hunedoara (CEH) are facing problems, some of them dealing with opening new working places in the mine. ‘ The four mines in Valea Jiului produce daily a quantity of almost 650 tons in one mine’ stated the special manager of CEH Cristian Rosu. The CEH ...
Coal industry will never recover after coronavirus pandemic, say experts
Thursday, May 21, 2020
The global coal industry will “never recover” from the COVID-19 pandemic, industry observers predict, because the crisis has proved renewable energy is cheaper for consumers and a safer bet for investors. EURACTIV’s ...
Free to Power Purchase Agreements from June 1, for new investments in electricity generation
Thursday, May 21, 2020
Romanian Government has adopted an Emergency Ordinance to amend the Electricity and Natural Gas Law no. 123/2012 so as to allow producers to conclude “bilateral contracts outside the centralized market, at negotiated prices”, for electricity from new energy production capacities, put into operation after 1 June 2020. The National Energy Regulatory Authority – ANRE is called to issue the necessary regulations for the implementation of ...
Gas imports drop by 6.2 pct in Q1 of 2020, production reduces by 3 pct
Thursday, May 21, 2020
Romania imported, in the first three months of 2020, 629,000 tonnes of oil equivalent (toe) in usable natural gas, by 6.2 pct less (41,700 toe) than the similar period of 2019, according to data centralized by the National Institute for Statistics (INS).The internal natural gas production was, in the mentioned period, around 2,052 million toe, being 3 pct (64,300 toe) less than in the January-March 2019 period.According to the draft of Romania's Energy ...
Romgaz to invest EUR 3.2 bln by 2026
Thursday, May 21, 2020
Romania's state-controlled gas company Romgaz plans investments worth RON 15,7 billion (EUR 3.2 bln) by 2025, according to the company's investment strategy to be endorsed by shareholders on June ...
Hidroelectrica sees lower revenues and profit in Q1
Thursday, May 21, 2020
Both the revenues and net profit of Hidroelectrica, the largest electricity producer in Romania, contracted by some 14% in the first quarter of the year (Q1) compared to the same period in 2019. The evolution was due to the lower prices on the regulated segment of the electricity market, announced Fondul Proprietatea, a minority shareholder of the ...
Rompetrol Rafinare, gross turnover of 929 million dollars, in Q1 2020
Thursday, May 21, 2020
Rompetrol Rafinare reported a gross turnover of USD 929 million in the first quarter of the year, while the net result was negative of USD 87.8 million, down from the negative net result in the same period last year of minus USD 14 million, company data released on Thursday shows. "The first quarter of 2020 was marked by drastic drops in the oil and gas market, caused by restrictive measures imposed with the trigger of the COVID-19 pandemic. Rompetrol ...
Enel, no longer interested in selling Romanian assets
Thursday, May 21, 2020
Italian utility group Enel has abandoned the plans to sell minority stakes in its Romanian subsidiaries, according to sources familiar to the deal quoted ...
Jade Power Trust ponders selling its operations în Romania
Thursday, May 21, 2020
Canadian company Jade Power Trust has set up a special committee to explore several "strategic options," including a possible sale of its operations in the renewable energy sector in Romania. Another option would be to attract a strategic ...
Electrica Group ended the first quarter with a consolidated net profit of 80 million lei
Thursday, May 21, 2020
Electrica Group obtained, in the first quarter of 2020, a consolidated net profit of 80 million lei, registering an increase of 121 million lei, compared to the same period of the previous year, informs the company. Consolidated EBITDA (profit before interest, taxes, depreciation and amortization) reached the value of 224 million lei, being higher by 150 million lei compared to the value of the first three months of last ...
Romgaz confirms interest in Neptun Deep offshore project
Thursday, May 14, 2020
Romanian state-controlled gas company Romgaz still intends to take over part of the participation currently owned by ExxonMobil in the Neptun Deep offshore gas perimeter alongside OMV Petrom, general manager of Romgaz, Adrian Volintiru, confirmed in an interview ...
Engie Romania to invest over EUR 200 mln in gas distribution network
Thursday, May 14, 2020
Engie Romania, formerly GDF Suez Romania, has earmarked over RON 1 billion (over EUR 200 million) for investments in the rehabilitation, systematization, optimization, and expansion of its gas distribution ...
Household energy prices in the EU increased compared with 2018 +1.3% for electricity and +1.7% for gas
Thursday, May 14, 2020
On average, household electricity prices in the European Union of 27 Member States (EU) increased to €21.6 per 100 kWh. This represents a 1.3% increase between the second half of 2018 and the second half of 2019, similar to the overall inflation rate (HICP) over the same period. Across the EU Member States, household electricity prices in the second half of 2019 ranged from €10 per 100 kWh in Bulgaria to around €30 per 100 kWh in Denmark, Belgium and ...
Enel Romania reports its profit from operations tripled in Q1
Thursday, May 14, 2020
Italian group Enel, Europe’s biggest utility group and one of the largest foreign investors in the energy sector in Romania, announced its operational profit (EBITDA) in the country has nearly tripled to EUR 61 million in the first quarter of the year (Q1) from EUR 21 mln in the same period last year. Enel’s Romanian subsidiaries posted EUR 25 mln net profit in Q1, compared to EUR 10 mln losses in the same ...
MOL Group reported USD 152mn net loss in Q1
Thursday, May 14, 2020
USD 152mn net loss reported for Q1 on the back of large foreign exchange losses and inventory losses caused by weaker HUF and the plunging oil prices Underlying operations were running strong until mid-March, when the pandemic-related lockdown started to seriously affect all business lines Upstream EBITDA declined by 35% to USD 185mn in Q1 reflecting much lower oil and ...
In 2019, CO2 emissions from energy use in the EU estimated to have decreased
Thursday, May 14, 2020
Eurostat estimates that in 2019, the year before COVID-19 containment measures were widely introduced by EU Member States, carbon dioxide (CO2) emissions from fossil fuel combustion (mainly oil and oil products, coal, peat and natural gas) significantly decreased by 4.3% in the European Union of 27 Member States (EU), compared with the previous year. CO2 emissions are a major contributor to global warming and account for some 80% of all man-made EU greenhouse gas ...
Commission supports Member States in their transition to a climate-neutral economy
Thursday, May 14, 2020
The European Commission has approved all requests made by 18 Member States for support with the preparation of their territorial just transition plans, which each Member State will have to draw up to get access to funding from the Just Transition Mechanism. To recall, the Just Transition Mechanism is part of the European Green Deal Investment Plan and will mobilise at least €100 billion of investments to provide additional targeted support to the ...
Moody’s keeps the rating for Transelectrica at Ba1 with positive perspective
Thursday, May 7, 2020
The National Company for electricity transport Transelectrica SA obtained for the third year in a row the rating Ba1(Corporate Family Rating) with positive perspective, from the evaluation agency Moody’s Investors Service announced on Wednesday the company. Thus, Moody’s keeps, for 2020 the rating CNTEE Transelectrica SA with an improvement of the rating at the individual level from Ba2 to Ba1.The Ba1 rating with positive perspective reflects a limited ...