RSS
Energy & Environment
Romgaz, Hidroelectrica must enter supply market for home consumers, otherwise Gov't takes measures
Thursday, July 16, 2020
Minister of Economy, Energy and the Business Environment, Virgil Popescu, stated on Tuesday evening, at private broadcaster Digi 24 that he is disappointed by state companies Romgaz and Hidroelectrica because they are not entering the supply market for home consumers and warned that he will take measures if nothing changes in their commercial policy."I am very disappointed by Romgaz, which is a gas producer and did not understand until now that if it remains at ...
Prime Minister sets up Strategic Coordination Committee for implementation of Cernavoda CNE 3 and 4 Units Project
Thursday, July 16, 2020
Prime Minister Ludovic Orban has ordered the setting up of the Strategic Coordination Committee for the implementation of Cernavoda Nuclear Power Plant (CNE) Units 3 and 4, by a decision published on Tuesday in the Official Journal.The committee will be chaired by the Minister of Economy, Virgil Popescu. The advisory body also includes Minister of Public Finance Florin Citu, presidential adviser Cosmin Marinescu and Ionel Danca, Head of the Chancellery of the ...
EconMin Popescu: At this time no political consensus in Parliament to amend Offshore Law
Thursday, July 16, 2020
Parliamentary political parties have not reached a consensus until now, so that the Offshore Law is amended and investors in the Black Sea start extracting gas, said the Minister of Economy, Energy and the Business Environment, Virgil Popescu, in an interview for Agerpres.He repeated his previous statements, namely that the Orban Government does not intend to modify the Offshore Law, and this will only be done through Parliament.The Minister recalled ...
Statistics: 11.2 pct drop of primary energy resources in first five months
Thursday, July 16, 2020
Primary energy resources dropped by 11.2 pct in first five months, compared to the same period of 2019, and those of electric energy reduced by 3.8 pct, shows the data published on Monday by the National Institute for Statistics (INS).According to the statistic, the main primary energy resources, in the first five months, totaled 12.787 million tons of oil equivalent (toe), 1.6 million toe less than in the same period of last year.Furthermore, the ...
Gazprom to deliver 2.7 bcm of gas per year to Romanian fertilizer producers
Thursday, July 16, 2020
Romanian businessman Ioan Niculae, the owner of the Interagro group currently under insolvency, says the Russians helped him when local gas producer Romgaz did not want to sell him gas, and local banks refused to finance ...
Fitch confirms Transgaz rating at "BBB minus", with stable outlook
Thursday, July 16, 2020
Fitch Ratings has confirmed at 'BBB-' the Long-Term Issuer Default Rating (IDR) with a Stable Outlook for Romanian company SNTGN Transgaz SA, informs a release of the rating agency.The rating of Transgaz mainly reflects its solid business profile as a concessionaire and operator of the gas transmission network in Romania as well as the agency's expectation of a progressive contraction of its international gas transit business derived from traditional ...
OMV Petrom’s sales decline less than anticipated in Q2
Thursday, July 16, 2020
OMV Petrom's fuel sales decreased by 17% year-on-year to 1.39 million tonnes in Q2, according to a preliminary report published ahead of the complete quarterly financial reports expected for the end of July. The decline is surprisingly milder than the 45% plunge anticipated by the company's CEO. "On the fuel side, in the second quarter, we see a 45% decrease and a 20% decrease for the whole year," said Christina Verchere, CEO of ...
Cristian Badescu: Romania has to diversify its resources and to increase its energy capacities
Thursday, July 16, 2020
The zero emission target for the European Union in 2050 can only be achieved through a set of combined measures in the field of energy efficiency, new renewable energy production and new technologies that will allow us, at least for a transitional period, to use fossil fuels, said at the Energy Strategy Summit 2020, Cristian Badescu, Special Representative for Energy Security in the ...
Timmermans congratulates Romania on the decision to sign the statement regarding the use of PEE in the post-Covid period
Thursday, July 9, 2020
The vicechairman of the European Commission Frans Timmermans congratulates Romania on the decision to sign the joint statement through which the Ecological European Pact (PEE) becomes the engine for the post Covid recovery according to the Facebook page of the ministry of environment.‘Vicechairman Timmermans said in the letter addressed to minister Costel Alexe as an answer to the signing of the statement, that the PEE objectives will continue to guide ...
Electrica paid in 2019 contributions worth 1.098 billion lei to the state and local budgets
Thursday, July 9, 2020
Electrica paid in 2019 contributions worth 1.098 billion lei to the state and local budgets, according to the sustainability report published on Tuesday, which shows that from the total of 375.16 tons of dangerous waste generated a group level, 48% were put to value and recycled, and 42% are temporarily stored for elimination during the next year or being put to value. The group Electrica published the fourth Sustainability Report about activity in ...
E.ON invested 1.7 billion euro in Romania, over the last 15 years for the modernization of the distribution grids and the development of energy solutions
Thursday, July 9, 2020
Over the last 15 years, the German group E.ON invested 1.7 billion euro in Romania, in the modernization of the distributions grids and for the development of energy solutions, so that starting with 2005 since they got on the Romanian market, there have been modernized over 8,290 km of natural gas grids ( half of the total length of the grid taken over at privatization) and almost 6.450 km of electricity grid. ‘Starting with 2005, since ...
Transgaz needs working capital
Thursday, July 9, 2020
Transgaz, the operator of the national natural gas transmission system, intends to borrow RON 300 million (over EUR 60 mln) for two years to finance the necessary working capital, according to an announcement published on the company's ...
Hungarian energy group MVM includes Romania in its expansion strategy
Thursday, July 9, 2020
Romania and the Czech Republic, apart from Western Balkans, are among countries with potential acquisition targets for Hungary’s state-run energy group MVM, the company’s Chairman and CEO Gyorgy Kobor said in ...
ANRE: All participants on gas market, including importers, required to sell 40 pct of deliveries on stock exchange
Thursday, July 9, 2020
All the companies that sell gas wholesale on the market in Romania, including those that run imports, are required to trade on the stock exchange 40 pct of their deliveries, at a starting point established by the National Authority for Regulation in Energy (ANRE), according to draft orders initiated by the authority."In the July 1, 2020 - December 31, 2022 period, all participants on the natural gas market, with the exception of producers the annual production of ...
EconMin Popescu: I wish Romgaz be part of consortium to start gas exploration in Black Sea
Thursday, July 9, 2020
The Minister of Economy, Energy and the Business Environment, Virgil Popescu, stated on Wednesday that he wishes that Romgaz be a part of the consortium that will start gas exploring in the Black Sea, because only in this way can the distribution network for natural gas be extended."Romgaz is negotiating to start investments in exploiting gas in the Black Sea and I wish them to be part of that consortium that will start exploiting gas in the Black Sea, because ...
E-DISTRIBUTIE COMPANIES – 51 MILLION EUROS INVESTMENT IN SMART METER PROGRAMME IN ROMANIA DURING 2015-2020
Thursday, July 9, 2020
By the end of 2020, almost 900,000 customers of the Enel Group’s Romanian distribution companies will have smart meters This year’s smart meter project will involve an investment of over 56 million lei (approximately 12 million euros) During 2015–2020 the investment made by the distribution companies, part of Enel Group in Romania, in the smart ...
Cristian Badescu: Romania has to diversify its resources and to increase its energy capacities
Thursday, July 9, 2020
The zero emission target for the European Union in 2050 can only be achieved through a set of combined measures in the field of energy efficiency, new renewable energy production and new technologies that will allow us, at least for a transitional period, to use fossil fuels, said at the Energy Strategy Summit 2020, Cristian Badescu, Special Representative for Energy Security in the ...
R. L. Morningstar: Romania’s critical role in Transatlantic Energy Cooperation
Thursday, July 9, 2020
HE Richard L. Morningstar was once again our guest, for the 6th edition of Energy Strategy Summit, on June 30th! This is the message sent by HE Richard L. Morningstar, Former US Ambassador to the European Union and Founding Chairman of the Atlantic Council, prior to the event. HE Richard L. Morningstar participated in the final session of the Summit, for the Closing Remarks, in a dialogue with Mr. Niculae Havrilet, State Secretary in the Ministry of Economy, Energy and ...
Electricity household prices, cut by 1.89pct from July 1
Thursday, July 2, 2020
Regulated electricity prices decreased by an average of 1.89% between July 1 and December 31, 2020, and the market will be fully liberalised from January 1, 2021, according to a press statement released by the National Energy Regulation Authority of (ANRE) on Monday.The decision was made at a meeting of the ANRE Regulatory Committee on Monday, June 29, 2020, when orders for the approval of regulated electricity prices for household customers between July 1, ...
ANRE : Deregulation of gas, electricity markets to have beneficial effects on consumers
Thursday, July 2, 2020
The deregulation of the Romanian gas market, on July 1, 2020, and of the electricity market, from January 1, 2021, will have beneficial effects for household consumers and will attract investors, Zoltan Nagy-Bege, Vice President of the National Energy Regulatory Authority (ANRE), said on Tuesday."Deregulations will have beneficial effects on household consumers, even if not tomorrow, on this market dominated by a small circle of suppliers. In the medium and ...