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Energy & Environment
Ten new companies entered electricity, natural gas and green certificate markets
Thursday, January 10, 2019
Ten new companies entered electricity, natural gas and green certificate markets administered by OPCOM, in December 2018, according to market operator OPCOM. We are talking about Energy Gas Provider (PCGN, PZU-GN), Serinus Energy Romania (PZU-GN, PCGN), Axpo Energy Romania (PZU-GN), smart Biz Management (PCV), Apuron Energy (PC-OTC), Wind Photovoltaic PPP (PI) and Alfa Land (PI). At the end of December, 374 participants were ...
Francois-Regis Mouton (IOGP): If everything is set right, investors will come
Thursday, January 10, 2019
With over 80 members around the world, the International Association of Oil and Gas Producers – IOGP – represents most of the world’s leading publicly traded, private and state-owned oil and gas companies, industry associations and major Upstream service companies. When we met in Bruxelles, few weeks ago, Mr. Francois-Regis Mouton – IOGP EU Affairs Director, spoke about Europe’s rising dependence on imports of oil and ...
Hidroelectrica will not pay compensation to Energy Financing Team AG, Bern’s Arbitration Tribunal decided
Thursday, January 10, 2019
Hidroelectrica won the trial against Energy Financing Team (ETF) company at the Arbitration Tribunal in Bern, Switzerland, at the end of 2018. The Arbitral Tribunal fully rejected EFT AG’s claims in the amount of EUR 80 million (reduced during the trial after Hidroelectrica’s defense statements at EUR 42.6 million plus interest of 5 percent per year starting in 2013), representing compensation for the alleged Hidroelectrica ‘s culpable non-execution of the ...
Solar households to be paid for excess power after UK government U-turn
Thursday, January 10, 2019
The UK government has made a U-turn on its decision to end the solar “export tariff”, confirming that households which install solar panels in the future will be paid for excess power they generate and send to the grid. EURACTIV’s media partner edie.net ...
EPG questions the consumption forecasted in the Romanian NECP draft
Thursday, January 10, 2019
In a first analysis of Romania’s Integrated National Energy Climate Plan (NECP) draft, which has just been launched in public debate for a few weeks, the Energy Policy Group (EPG) experts note that “in general, the NECP draft suffers from a lack transparency and rigor as regards the analytical basis and the necessary methodological clarifications”, energynomics.ro reas. The main shortcomings, according to the EPG, are the excessively optimistic estimation of ...
European Commission says distorted, inadequate interventions on gas market could put investment at risk
Thursday, January 3, 2019
The distorted, inadequate interventions on the natural gas market could put the investment at risk and delay the gas production from the Black Sea offshore deposits, thus affecting the development of the relevant infrastructure for the safety of supply and solidarity in the Energy Union, the European Commission says.The EC specifies that it took note of the OUG on the gas price presented by the Romanian governement on 18 December and that it will assess it ...
Higher fuel prices as of January 1, 2019
Thursday, January 3, 2019
Fuel prices will increase as of January 1, 2019. The litre of fuel will cost by RON 0.20 more, resulting in costs by RON 10 higher for a 50 litres full tank. The increases are the consequence of increased excise duties, calculated according to the inflation rate, realitatea.net reports. The price of fuel has decreased in the past two months, with the litre of petrol costing RON 5 and the litre of diesel fuel RON 5.30. This level will increase by RON ...
TeraPlast and E.ON Energie Romania sign a 1.9 million euro agreement for energy efficiency solutions
Thursday, January 3, 2019
E.ON Energie Romania will build a photovoltaic power plant in TeraPlast Industrial Park, part of a strategic partnership estimated at 1.9 million euros, energynomics.ro reports. The construction of the photovoltaic power plant has as its main objective the distributed production of electricity from renewable sources, using the solar energy and supplying the produced energy to the consumers connected to the power plant, states a press ...
Romania's final energy consumption to go up annually approx 2.4pct by 2022
Thursday, January 3, 2019
Romania's final energy consumption will increase between 2019 and 2022, with annual jumps of approximately 2.4 percent, the Energy Balance Forecast published in December by the National Commission for Strategy and Prognosis (CNSP) showed.Thus, in 2019, Romania's total energy consumption is estimated at 24.06 million tonnes of oil equivalent (toe), up 2.4 percent year-on-year. In 2020, the indicator will register an increase of 2.5 percent up to 24.66 million toe. ...
Financial Times: Romania shocks investors with bank and energy tax plans
Thursday, January 3, 2019
Romania’s government announced a swath of corporate taxes as part of a plan to raise 10 billion lei (€2.1bn) to address a budget deficit, sending the country’s stock market plummeting, energynomics.ro informs. The measures are being introduced to try to ease a budget shortfall and keep Romania within the EU’s fiscal rules, which allow a deficit of 3 per cent of gross domestic product. The deficit was 2.2 per cent at the end of ...
Dedeman bought 23% of ALRO Slatina
Thursday, January 3, 2019
Romanian company Dedeman, owned by the Paval brothers, bought 23.26% of ALRO, through Paval Holding, in a private placement initiated by majority shareholders. In addition, two executive managers of ALRO, the Chairman of the Board of Directors – Marian Nastase and the Financial Director – Genoveva ...
Eurostat: In 2016, the EU imported more oil from Hungary and Slovakia than from Romania
Thursday, January 3, 2019
According to Eurostat, in 2016, EU Member States imported 545.9 Million tonnes (Mt) of crude oil. Almost two thirds of these imports (67%) came from five countries. The largest share came from Russia (166.0 Mt in 2016, representing 32% of the total crude oil imports to the EU) and Norway (64.2 Mt, 12%), followed by Iraq (43.0 Mt, 8%), Saudi Arabia (40.5 Mt, 8%) and Kazakhstan (35.3 Mt, 7%). Eurostat data also show that in 2016, ...
Petrom, reaction to OUG imposing new taxes and taxes:
Thursday, December 20, 2018
The draft emergency ordinance announced by the Ministry of Finance, which imposes new taxes and increases existing ones, "will have a strong negative impact on Romania's energy sector, on energy security, on jobs and investments," says Petrom, a press release. Petrom's reaction is unusually tough, the company listed on the stock exchange being extremely cautious in terms of public communication. The largest Romanian company with ...
Electricity price to rise substantially in Romania in 2019
Thursday, December 20, 2018
The electricity price [on the wholesale market] will increase by 40% next year compared to 2018, which will also result in higher prices for end-users, Petre Stroe, CEO of the energy and gas supplier MET Energy Romania, commented at a press conference. He pointed out that the regulations in this sector are not well set up, so some traders may unilaterally terminate contracts, preferring to pay penalties, ...
Gov't proposes capping prices of domestic production's natural gas to 68 lei/MWh, until February 2022
Thursday, December 20, 2018
The Executive envisages capping the price of natural gas from domestic production to 68 lei / MWh (rd 14 euro, ed. n.), for a period of three years, until February 2022, Minister of Public Finance Eugen Teodorovici announced Tuesday at Victoria Palace."Setting a price ceiling for gas is another measure taken to protect both households and the economic environment. Unfortunately, the behavior of certain companies in different sectors of activity shows very ...
Romania's TeraPlast, E.ON Energie join forces in solar energy project
Thursday, December 20, 2018
Romanian plastic products manufacturer TeraPlast Group [BSE:TRP] said on Wednesday that it has signed a 1.9 million euro ($2.17 million) deal with E.ON Energie Romania for the construction of one of the country's largest solar power plants, seenews.com reports. E.ON Energie Romania, part of German-based energy group E.ON, will use the funds to build a photovoltaic power plant in TeraPlast Industrial Park, TeraPlast said in a press ...
PM Dancila decides setting up of Working Group for negotiation of Romanian-Chinese agreement on Cernavoda Units 3 and 4
Thursday, December 20, 2018
Prime Minister Viorica Dancila Tuesday decided to set up the Working Group for the negotiation of the Intergovernmental Agreement between Romania and the People's Republic of China project on the cooperation for the implementation of the Units 3 and 4 of the Cernavoda nuclear-power plant.According to the decision published on Tuesday in the Official Gazette, the leadership of the Working Group will be assured by a Deputy Prime Minister acting as the President of ...
Energy price to increase as of January 1
Thursday, December 20, 2018
Electric energy tariffs will grow by 0.74% as of January 1, 2019, leading to an increase of the energy bill by RON 3.5 per year, on average, for the household consumer, a release on Friday from the National Energy Regulation Authority (ANRE) informs. “By these amendments, ANRE aims to eliminate the past deficiencies regarding the structure of costs included in the tariffs, as well as increasing the investments’ efficiency of the ...
Transgaz obtains 50 mln euro from EIB for the financing of a new pipeline
Thursday, December 20, 2018
The European Investment Bank (EIB) grants national gas transmission company Transgaz 50 million euro for the financing of a new pipeline, due to connect Romania's natural gas resources for the Black Sea's shore both to the national gas transmission grid and with the BRUA corridor, thus connecting the transport systems in South-Eastern and Central Europe, the Economy Ministry informs on Monday.The transaction is supported by the European Fund for Strategic ...
Transgaz seeks constructor for EUR 290-335 million pipeline link to Black Sea
Thursday, December 20, 2018
Romanian state-controlled gas transporter Transgaz launched the tender to find a constructor for another major pipeline: the one aimed at bringing the natural gas that may eventually be produced by ExxonMobil and OMV Petrom in the Black Sea to the major BRUA route thus allowing the export of gas to Hungary and, in principle, to Bulgaria, ...