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Energy & Environment
Romania's construction cost for 1MW in solar and wind amounts between EUR 1.5 – 1.6 million
Thursday, February 27, 2014
Romania wind projects are currently generating losses for investors after the government rescheduled the issuance of some green certificates last summer, said on Tuesday Razvan Grecu, vice president strategy at France’s utility GDF Suez, during a roundtable on transparency and predictability in policy-making, organized by the Foreign Investors’ Council (FIC), the business advocacy group.The government’s decisions to change ...
SOCAR opens two more gas stations in Romania
Thursday, February 27, 2014
The State Oil Company of Azerbaijan (SOCAR) has opened two new gas stations in Romania, bringing the total number of the facilities in the country to 25. The new gas stations opened in Oradea and Timisoara, while work continues to launch the stations in Bacau, Cluj, Sibiu, Arad, Bistrita and Iasi. SOCAR said it plans to bring the number of its gas stations in Romania to 100, AzerTAc ...
Romania's Transelectrica needs to invest over EUR 1 billion in the grid
Thursday, February 27, 2014
Romania's Transelectrica needs to invest over EUR 1 billion in the grid, to enhance interconnections, remove backlogs and overhaul aging assets, said on Thursday Carmen Neagu, member in the supervisory board of the grid operator. Neagu said the Transelectrica plans to strengthen the Western inter-connection with Serbia, as well as the lines with neighboring Republic of Moldova. The grid operator is also planning an inter-connection ...
Hidroelectrica is back in insolvency
Thursday, February 27, 2014
Hidroelectrica reenters insolvency after several energy traders have won their appeals in the Bucharest Court of Appeal. The energy traders moved against the former judiciary administrator for Hidroelectrica, who denied their receivables worth RON 1.3 billion. The information was confirmed by Remus Vulpescu, ex-member of the Supervisory Board of Hidroelectrica. “Hidroelectrica returned to insolvency, after the Court of Appeal decided to accept ...
GfK Study : CEZ, the most rapid operators, GdF Suez, appreciated for the quality of the response
Thursday, February 27, 2014
CEZ call center operators are most rapid in answering customers, GdF Suez occupies the first place in the quality of response while E.ON scores last in both cases, according to a study by GfK.On average, a call is taken over in about three minutes by an operator and the email waiting time takes at least a day, GfK data shows. “According to a study conducted ...
Petrom posts RON 4.824 billion in 2013 net profit, up 22 pct over 2012
Thursday, February 20, 2014
Petrom Group ended last year on RON 4.824 billion in net profit (about 1.091 billion euros), up 22 per cent over 2012, when the net profit was worth RON 3.946 billion, according to preliminary consolidated results of the Petrom Group published on Wednesday.In the fourth quarter of the year 2012, the oil company's net profit reached RON 1.158 billion, up 10 per cent over the net profit recorded in the same interval of the previous year, ...
Transelectrica's 2013 net profit exceeds RON 162 million, up almost five times
Thursday, February 20, 2014
Romania's Transelectrica national electricity transmission system operator ended 2013 on a net profit worth RON 162.29 million (about 36 million euros), up almost five times from 2012, when it reported a RON 34.48 million profit, according to preliminary financial reports submitted to the Bucharest Stock Exchange on Monday.The earnings before interest and taxes (EBIT) stood at RON 207.8 million, 2.5 times higher than those recorded in ...
Transgaz net profit advances 2 pct in 2013, to RON 336.8 million
Thursday, February 20, 2014
Romania's Transgaz national natural gas transmission operator has reported a preliminary 2013 net profit of RON 336.861 million (some 75.4 million euros), up 2 per cent from 2012's RON 329.3 million, according to financial reports submitted on Monday to the Bucharest Stock Exchange (BVB).The company's total revenue advanced 10 per cent in 2013, to RON 1.55 billion, while expenses increased also by 10 per cent, to RON 1.129 billion. Its ...
Eurostat: Romania, among EU states least dependent on energy imports
Thursday, February 20, 2014
Denmark is the only country in the European Union (EU) which was a net energy exporter in 2012, but Romania is among the EU countries that are least dependent on energy imports (23 percent), a lower dependence less only registered by Estonia (17 percent), according to data the European Office of Statistics (Eurostat) released on Monday.Between 2006 and 2012, energy consumption decreased in 24 member states (Romania included) and ...
Transgaz and Transelectrica switch to SGG: regulator cannot be administrator too
Thursday, February 20, 2014
Prime Minister Victor Ponta explained on Friday the switch of the Transgaz and Transelectrica companies under the authority of the General Secretariat of the Government (SGG) and said that the Ministry of Finance had the reform of the system of royalties, fees and taxes as it objective and the 'regulator cannot be an administrator too.''Transgaz and Transelectrica are listed on the stock exchange and must work and they really work on the basis of the professional ...
SOCAR invests nearly 1 million euros in its first filling station in Bucharest
Thursday, February 20, 2014
The State Oil Company of Azerbaijan Republic SOCAR has invested approximately one million euros in its first gas station opened in the Romanian capital city, at Chiajna, along the city belt. The opening of the fuelling station took place on Friday in the presence of the ambassador of the Azerbaijan Republic in Romania, Farid Abdinbaiov, the Turkish Ambassador in Romania, Omur Solendil, and the general manager of SOCAR Romania, Hamza ...
Renewable energy programme worth 8.39 mln euros starts in Feb.
Thursday, February 20, 2014
The first funding session of the programme 'RO 06 Renewable Energy' worth 8.387 million euros is to be launched in Feb., according to information published on the official homepage of the programme.According to a release of the Environment Fund Administration (AFM), the programme will simultaneously address the need to increase the sustainable use of natural resources and reduce greenhouse gas emissions, by tapping into the potential of ...
Petrom wants to sell natural gas on OPCOM exchange, as first
Thursday, February 20, 2014
OMV Petrom Gas, Petrom's natural gas division, has put up for sale on the relevant OPCOM exchange a natural gas quantity of 106,000 MW, in two contracts, at the price of 82.5 lei per MWh, according to data posted on the OPCOM website.This is the first time in the history of the Romanian energy sector when a company puts up for sale natural gas on the relevant exchange.In fact, if these transactions are completed, they will be the first ...
Development of new transmission corridor for Black Sea gas discussed with Commissioner Oettinger
Thursday, February 20, 2014
The development of a new gas transmission corridor for the gas from the Black Sea, through Romania, was on the agenda of the talks held on Thursday in Brussels by Transgaz and Transelectrica representatives with the European Commissioner for Energy Gunther Oettinger, his spokesperson Sabine Berger stated.The European Commissioner for Energy [Gunther] Oettinger met a delegation of Romania's Transgaz and Transelectrica last Thursday. One ...
The leadership of Transelectrica and Transgaz meet on Thursday with the European commissionaire for energy in Brussels
Thursday, February 13, 2014
The managers of the companies Transelectrica and Transgaz meet on Thursday in Brussels the European commissionaire for energy Gunther Oettinger for a discussion on the issue of the activity of the two energy companies, sources in the two companies ...
PM Ponta: Law on green energy subsidies allows us to keep prices within normal limits
Thursday, February 13, 2014
Prime Minister Victor Ponta on Wednesday hailed Parliament having readopted a law on green energy subsidies, saying this is a regulation that will allow prices to be kept within normal limits.'A certain Sir, which should not be named, sent back the draft to Parliament so that prices for individuals may increase and perhaps take the people to the streets. Parliament re-voted on a European law, a good law in the interest of Romania's ...
9.41 million euros SME programme for reducing CO2 emissions
Thursday, February 13, 2014
The Romanian small and medium enterprises (SME) that develop programmes for reducing CO2 emission through energy saving will benefit of foreign financing up to 700,000 euros from the 'Industrial Energy Efficiency Programme for SMEs.'The overall amount of the programme stands at more than ...
Rompetrol to invest 130 million dollars for cogeneration unit at Petromidia refinery
Thursday, February 13, 2014
Rompetrol Group will invest 130 million dollars to build a combined heat and power production unit on the platform of Petromidia refinery in Navodari (southeastern Romania), the company's vice president Catalin Dumitru announced on Thursday. 'This is a major investment, which we assume for several economic reasons; it will have a total capacity of 136 MW for heat and 73 MW for electricity. The first advantage is that this heat will be supplied to the municipality ...
Hidroelectrica recruits managers for Executive Board
Thursday, February 13, 2014
The largest state-owned energy producer, Hidroelectrica, has started the recruitment and selection of the future members of the Executive Board, according to a company's announcement.Hidroelectrica is managed in a dualist system by an Executive Board and a Supervisory one. The seven members of the Executive Board are under the control of the Supervisory Board.Those who want to be among the company's managers will submit their applications and required ...
Nuclearelectrica estimates a 16 times profit loss for 2014
Thursday, February 13, 2014
Nuclearelectrica (SNN ), the sole operator of nuclear power plants in Romania, estimated this year the net profit will fall to only 27.9 million (6.2 million euros), 16.3 times lower than the net gain of 456, 7 million lei in 2013. The company expects to have revenues this year of 1.82 billion lei (407.6 million euros), lower by 20.8% compared to ...