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Energy & Environment

EU Renewable Energy bill confirms the 38-40% target for 2030

Thursday, May 13, 2021

A draft EU future renewable energy directive confirms the EU bloc’s goal of obtaining 38-40% of energy from renewable sources by 2030, doubling the share of solar, wind and other renewable energy in Europe’s energy mix by the end decade, informs euractiv.com.   European Commission’s revised Renewable Energy Directive will be presented on July, 14 as part of a wider package of laws aimed ...

Romgaz postpones for the third time the termination of the contract for the Iernut power plant project

Thursday, May 13, 2021

 Romgaz gave the contractor another two weeks for settling the issues related to the compilation of the 430MW gas-fired power plant in Iernut, the company says in a note to ...

OMV Petrom will install at least 40 charging stations for electric cars in its fuel stations 

Thursday, May 13, 2021

OMV Petrom will install at least 40 charging stations for electric cars in its fuel stations by the end of 2022, in partnership with Renovatio - the operator of the largest network of charging stations for electric vehicles in Romania.   All gas stations will have at least one recharging station with a minimum power of 50kW, and at least 20 of them will have recharging stations with an installed capacity ...

Competition fined E.On 30 million lei for abuse of a dominant position on the market of technical verification and revision services

Thursday, May 13, 2021

  Romania's Competition Council slapped a RON 30 mln (EUR 6.1 mln) fine on Delgaz Grid, a member of the German group E.ON, for abuse of a dominant position on the market of services related to natural gas distribution.   According to the competition body's statement, the fine sanctions the company's abuse on the market of technical verification and revision services of natural gas ...

Volker Raffel is the new CEO of E.ON Romania

Thursday, May 13, 2021

Volker Raffel will be the new CEO of E.ON Romania starting with August 1, replacing Manfred Paasch, who will retire from the position held for almost two years at the helm of the company.   To prepare the transition, starting with May 1, Volker Raffel became a member of the Board, being responsible for Corporate Affairs, Strategy, Legal and Compliance, as Deputy General Manager of E.ON ...

Daniel Burlan (CEO): we have a permanent dialogue with the EC which wants to make sure the restructuring effort is realistic

Thursday, May 6, 2021

The chairman of the Directorate of the Energy Unit Oltenia (CEO), Daniel Burlan considers that the company has an important market share, of over 20% and if the activity and installed capacity is reduced, he says that ‘we need to replace with something to cover the necessary in the system’.   He spoke, in an interview offered to ...

The Oltenia Energy Unit finalised the acquisition of the certificates of CO2 for the energy produced in 2020

Thursday, May 6, 2021

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The Oltenia Energy Unit, one of the biggest producers of energy in the country, announces that they finalised the acquisition of CO2 certificates allocated for the energy produced in 2020, the value being 315 million euro.    ‘In the Plan for Restructuring and decarburization sent to the European Commission there were estimated values between 26 and 35 euro for one certificate. The state aid ...

The net profit of OMV Petrom dropped by 12% in Q1 at 573 million lei

Thursday, May 6, 2021

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  The net profit of OMV Petrom dropped by 12% in Q1 at 573 million lei, from 653 million lei during the similar period of last year, while the income from sales dropped by 20%  at 4.86 billion lei, from 6.08 billion lei in Q1 of 2020, shows the report sent on last Thursday by the company BVB (The Bucharest Stock Exchange).   The total debt dropped by 313 million lei on ...

Eurohold mandated J.P. Morgan AG as lead and exclusive arranger for structuring the debt financing related to the deal with CEZ Group

Thursday, May 6, 2021

Eurohold, the largest Bulgarian public holding and a leading independent financial and insurance group operating in the CEE/SEE/CIS region, has ...

EBRD invests €67 million in VPG NV €600 million green bond

Thursday, May 6, 2021

Logistics company aims to boost sustainability of operations EBRD financing earmarked for Hungary, Latvia, Romania and Slovak Republic   The European Bank for Reconstruction and Development (EBRD) has successfully subscribed to a €67 million ticket ...

ENEL CONTINUES THE ENERGY MARKET INFORMATION CAMPAIGN AND LAUNCHES “EVERYTHING ABOUT LIBERALIZATION” VIDEO SERIES

Thursday, May 6, 2021

Enel Energie and Enel Energie Muntenia continue the consumer information campaign on the energy market liberalization and launch “Everything about liberalization”, a series of video interviews meant to answer to the most frequently asked questions received from customers on this topic.    With the help of Enel specialists, consumers can find out what are the main changes in the ...

Bailiff, sent to trial after causing 1.5 million RON worth of damages to CE Oltenia

Thursday, May 6, 2021

Nicolae Gagiu, bailiff in Targu Jiu, was sent to trial by the prosecutors of the National Anticorruption Directorate (DNA) in a case in which he is accused of abuse of office and money laundering, after causing approximately 1.5 million RON worth of damages to the Oltenia Energy Complex (CE Oltenia).According to a release from the DNA, sent on Wednesday, prosecutors with the National Anticorruption Directorate - the Craiova Territorial Service disposed the ...

Claudia Griech is the news GM of E.ON Energie Romania

Thursday, May 6, 2021

Starting May 1st, Claudia Griech has taken over the position of general manager of E.ON Energie Romania, coordinating the Customer Solutions segment, and also B2C and B2B areas. She will also be member of the E.ON Romania board.   “In a moment with numerous transformations on the energy market, we’ll focus on developing the solutions and innovative products portfolio (…) We assumed ...

Shell oil company becomes operational on Romanian market

Thursday, May 6, 2021

Shell, one of the largest oil companies globally, is operating at full force on the Romanian market since Tuesday, with a team of 57 persons."The Shell Romania team is now complete and working hard to serve our clients on the local market as efficiently as possible. Now we ensure them direct access to our services, products and know-how portfolio and we can respond directly to their need to have increased support in increasing the efficiency of business, through a ...

Romgaz’s shareholders agree to 5.5% dividend yield this year

Thursday, May 6, 2021

The shareholders of Romanian state-controlled gas producer Romgaz (SNG) approved the distribution of RON 690 million (EUR 140 mln) as dividends, an amount financed from last year's profit and the retained earnings account, according to a company's note to investors.   The dividend payout ratio is not much higher than 50%, which leaves resources in the company's reserves account in the view of ambitious investments related ...

Govt. rejects Transelectrica’s dividend proposal, calls for new GSM

Thursday, May 6, 2021

The Romanian Government's General Secretariat, which owns a 58.7% stake in the national power grid operator Transelectrica (TEL), rejected the company's financial reports for 2020 and the dividend proposal and called for a new General Shareholders' Meeting (GSM).   The Government motivated its request by saying that the company didn't observe the legal provisions related to the profit distribution by state-controlled ...

Electrica elects new Board members and pays dividend at 5.4% yield

Thursday, May 6, 2021

Romania's biggest electricity supply and distribution group, Electrica (EL), 49% controlled by the state, elected four new members in its seven-seat board.   The company's shareholders also voted the distribution of dividends from last year's profit corresponding to a 5.4% yield and approved a financing strategy to support the investments and "inorganic growth opportunities." The company will distribute as dividends RON 248 ...

Energy minister suspects cartel of electricity suppliers

Thursday, May 6, 2021

Energy minister Virgil Popescu "suspects an illegal cartel agreement between the energy suppliers [on the residential market]," he told local news agency Agerpres in an ...

FP's Meyer: Repeal of Law 173, necessary for listing of Hidroelectrica, as it prohibits alienation of state participations

Thursday, April 29, 2021

The listing of Hidroelectrica involves several key steps that must be followed, but first of all, the repeal of Law 173/2020, which prohibits the alienation of state participations, Johan Meyer, CEO Franklin Templeton Investments Romania and Fondul Proprietatea Portfolio Manager said on Wednesday."There are several key steps to follow. First, the repeal of Law 173 prohibiting the alienation of state participations. Hidroelectrica has two shareholders ...

EnMin Popescu: We suspect electricity suppliers, thinking we would return to regulated prices, are involved in a cartel

Thursday, April 29, 2021

The Ministry of Energy suspects that the energy suppliers have concluded an illegal cartel-type of agreement, for they did not buy the electricity to be supplied to the population at the lowest costs possible, the relevant Minister, Virgil Popescu, said in an interview to Agerpres.The ...

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