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Energy & Environment

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

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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

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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 ...

Energy Security Barometer: 21.5% of Romanians say they are vulnerable consumers

Thursday, July 2, 2020

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The second edition of the Energy Security Barometer, launched on Wednesday, reveals that 21.5% of consumers consider themselves vulnerable, in terms of difficulties in paying energy bills. At the time of the survey, less than half of Romanians (48.8%) said they had heard that the natural gas market would be liberalized starting July 1, 2020, while 50.2% had not heard about it. Only 21.5% of Romanians consider that they have ...

PNL and USR attack with CCR the amendments brought to law 33/1994 which allow the construction of hydropower stations in protected natural areas

Thursday, July 2, 2020

Uniunea Salvati Romania –USR announced on Tuesday that, together with the National Liberal Party – PNL attack with the constitutional court the amendments brought by the parliament to law 33/1994 regarding the expropriation for public utility, amendments which will allow the construction of hydropower stations in protected natural areas and which ‘ will have as extremely negative effects for all rivers in Romania and will produce the irreversible ...

EU ministers exclude nuclear, fossil gas from green transition fund

Thursday, July 2, 2020

European Union countries agreed on Wednesday (24 June) that the bloc’s flagship fund to wean regions off fossil fuels should not finance nuclear or natural gas projects, despite calls from some Eastern countries for gas to be eligible for EU funding. The European Commission, the EU’s executive, wants to set up a €40 billion Just Transition Fund, comprised of €30 billion from an EU coronavirus recovery fund and ...

Five bidders reportedly compete for CEZ’s Romanian assets

Thursday, July 2, 2020

India Power Corporation, Hungarian power group MVM (Magyar Villamos M?vek), German utilities group E.ON, and the German financial services group Allianz are reportedly the bidders that compete against the Romanian state-controlled consortium Hidroelectrica - Electrica - SAPE for the Romanian assets of Czech utility group CEZ. The Romanian consortium reportedly submitted its binding offer last week, unofficial sources familiar to the ...

Govt. allows Hidroelectrica to bid for CEZ’s assets

Thursday, July 2, 2020

Hidroelectrica, the largest electricity producer in Romania, received on July 25 the agreement of its majority shareholder, the Economy Ministry,  to submit a binding offer for the Romanian assets of the Czech group CEZ. Hidroelectrica will make the bid in a consortium with Electrica and SAPE, also controlled by the state. The approval also allows the company to contract a loan to finance the ...

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