Romania exported 60% more electricity in the seven months of 2017
By Theo Moreni
Energy Minister Toma Petcu declared on Friday that Romania's exports of electricity increased this year by about 60% compared to last year.
"For the first seven months of 2017, Romania is a net exporter of electricity. The export of electricity increased by 60% compared to last year, which makes it very clear that Romania is certainly producing more than it consumes. We have the possibility of producing energy from a fairly developed energy mix. During this time we had some problems with weather conditions, on the hydro side we produced less, but we had the coal reserve, "the minister said.
Regarding the liberalization of the electricity market, Toma Petcu acknowledges that there is no interest of the population in changing the supplier, although this could bring lower invoices.
The Minister of Energy also spoke about the situation of the approximately 30,000 households in Romania located in hard-to-reach areas not connected to the electricity distribution grid, saying that they could be a solution for a program to acquire photovoltaic panels .
"For single-secluded hamlets or isolated villages or for isolated people who do not have access to electricity, we have discussed with the Deputy Prime Minister and Minister of Environment about a project on the Environment Fund that provides the necessary sums, "Green House", we can attract funds to allocate amounts to individuals and / or ATUs to carry out small works with photovoltaic panels and backup batteries to power these isolated homes and the population that does not have access to the city Current electricity, "Petcu said. (rbj/25.08.2017)
Nuclearelectrica posts 84 million lei in Q1 2017 net profit, up 25.7% y-o-y
Romania's nuclear power producer Nuclearelectrica (BVB-SNN) has posted 84 million lei in Q1 2017 net profit, up 25.7 percent y-o-y, according to the company's Q1 2017 financial results submitted to the Bucharest Stock Exchange (BVB).
The earning before interest and tax (EBIT) advanced 41.5 percent, while the earnings before interest, tax, depreciation and amortization (EBITDA) advanced 18.1 percent, both y-o-y.
"The 25.7-percent increase in the net profit, compared with an operating gross profit increase of 41.5 percent, is the result of the fact that that in the first quarter of 2017 a net financial expense of 1.838 million lei was incurred, compared with the same period of 2016, when a net financial income of 10.3 million lei was registered, expense generated by the net currency exchange differences," according to Nuclearelectrica officials.
The company's energy output was 2,766 GWh, slightly down 1.3 percent y-o-y.
The income derived on the electricity market related to the electricity delivered in the 1st quarter of 2017 is of 486,494,412 RON, up 3.36 percent against the value considered when preparing the budget for 2017 (the Q1 portion) and up 6.51 percent y-o-y.
At the same time, the quantity of energy traded on contracts, on the spot market — the PZU day ahead market and the and PI intra-daily market and on the balancing market was 2,789,218 MWh, by 0.77 percent more than planned sales of 2,767,838 MWh.
The total value of the investment program of SNN for 2017 is 231,593 thousand lei (the payment of debt service excluded).
The highest value of the SNN investment program, of 196,759 thousand lei in 2017, is for the CNE Cernavoda Branch. The investment program of the CNE Cernavoda Branch was 18.25 percent completed as of the end of the first quarter.(Source: Agerpres)(rbj/12.05.2017)
Hidroelectrica S.A. will be listed on the stock exchange in the second half of the year
By Emea Riga
Hidroelectrica S.A. can be listed this year only if it will solve the problem by the end of March with the unprofitable investment of the company, said Tuesday Ovidiu Agliceru, general manager of Hidroelectrica.
'I was asked last summer when is the listing (at the BSE-N. N.). I conditioned on resolving this listing ... The listing is feasible for this year where these unprofitable investments will be settled in the first quarter, "the official said.
Agliceru said that it is unprofitable investment for Hidroelectrica, because they not intended for energy production, but as their main water supply or attenuation of growth of debiterlor water. 'These investments unprofitable energy should be terminated if the Hidroelectrica would total 2 billion euros. This amount, if appear before the payment obligation, would substantially reduce the company's value, "he added.
Agliceru said that Hidroelectrica has an investment plan of over one billion euros for the next five years.
'It is about 1-1.1 billion euros in the next five years, the investment plan. 300 million is revamping plan, 300 million euros in upgrades or repairs, then 250 million investment in new plant completion, "he noted. Hidroelectrica was 1.5 billion lei last year gross profit and 3.4 billion lei revenue, according to preliminary results, a production of 17.4 TWh of electricity, said the company official.
At the Extraordinary General Meeting of February 7, shareholders of Hidroelectrica extended until August 7, 2017 commitment letter with Morgan Stanley - Raiffeisen Syndicate for listing on the stock exchange of Hidroelectrica.
In 2013, the government decided the listing of the company at the Bucharest Stock Exchange by raising capital and launching an initial public offering of a package sale of shares newly issued 15% of the existing share capital before increasing.
The Romanian state owns 80% of Hidroelectrica, through the Ministry of Energy and 20% of shares are held by Fondul Proprietatea.(rbj/21.02.2017)
Enel is obliged to pay the Romanian state 401 million euros
The International Court of Arbitration in Paris ruled that Enel to pay Romanian state the sum of 401 million euros for the stake of 13.5% of Electrica Muntenia Sud, for which the Romanian state had requested more than 521 million.
"Enel confirms that it has received from the International Chamber of Commerce in Paris the arbitral award related to the stakes in the electricity sector in Romania and linked to the exercise by SAPE (Management Company Ownership in Energy) the clause Put Option for Enel Distribution Muntenia and Enel Energie Muntenia. Enel respects the decision of Court and the company is currently analyzing the details of this decision ", officials said Enel.
The Italian company says that it was expected such a decision. "Moreover, the outcome of arbitration is in line with company expectations and internal analysis conducted on this case," added Enel representatives. In 2012, the Romanian government has asked Enel over 521 million, plus interest, for the package of 13.5% of the shares of the former subsidiary Electrica Muntenia Sud. The Italian company has not agreed to this amount and offered in 300 million. The two sides have asked the Court of Arbitration in Paris, which established the transaction amount to 400 million euros.
The arbitration costs will be divided equally between the Romanian and Enel, according to sources close to the situation.(rbj/2017.02.14)