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Energy & Environment

President Iohannis: High energy prices - global issue, Government has taken issue very seriously

Thursday, September 30, 2021

 President Klaus Iohannis said on Monday that high energy prices are a global problem, but that these issues are being discussed both at European level and in the Romanian government."There is no coincidence that the President [of the European Commission - ed.n.] and I have discussed this topic today, quite a lot and deeply. I want it to be very clear. High energy prices, especially electricity, are not a Romanian problem. It is an issue that seems to have become ...

EnerMin: We could discuss about over-taxing energy companies, to cap final consumer's price

Thursday, September 30, 2021

 Energy Minister Virgil Popescu said on Monday he is willing to consider the option of over-taxing energy companies as a tool to limit the high energy prices for final consumers."Today I heard about another type of capping - capping by taxation. It's a discussion that can take place. I'm not an advocate of capping the price of the producer, because that's what staves off investment, but if we're talking about something else, an over-taxation for extra-profits, if we're ...

High electricity prices boost Nuclearelectrica’s earnings

Thursday, September 30, 2021

Romanian state-controlled power company Nuclearelectrica (SNN) targets a 40% higher net profit this year, compared to the previous budget, mainly due to the increase in electricity prices.   The outlook of the energy sector as a whole is also supportive of the investors’ expectations, which pushed up the company’s shares markedly since the beginning of the year.   The target is included in the draft budget for this year, which will ...

PNRR: 4.3GW of new green & gas power units to replace coal-fired plants by 2025

Thursday, September 30, 2021

Romania will gradually shut down its entire 4.59GW coal-fired power plants by the end of 2032 under a frontload schedule, according to the recovery and resilience plan (PNRR) sealed with the European Commission.   Romania has become the 19th European country to formalise plans to exit coal, announced Europe Beyond Coal (EBC) - an alliance of civil society groups working to catalyse the closures of coal mines and power plants.   "With only 810 MW of ...

BSOG seeks 15-year extension of Black Sea concession Midia

Thursday, September 30, 2021

The owners of the Midia natural gas perimeter in the Romanian offshore, Black Sea Oil & Gas (BSOG) and Petro Ventures and Gas Plus, have applied to the Agency National Institute for Mineral Resources (ANRM) for a 15-year extension of the concession agreement concluded with the Romanian ...

Romgaz seeks EUR 350 mln to pay for Exxon's 50% stake in Neptun Deep

Thursday, September 30, 2021

State-controlled company Romgaz will borrow EUR 350 mln from a syndicate of banks to finance the purchase from Exxon of the 50% participation in the Neptun Deep offshore gas project carried out with OMV Petrom.   According to estimates, Romgaz should pay around close to EUR 1 bln for the 50% ...

Renovatio returns to Romania’s green energy market with 50 MW wind project

Thursday, September 30, 2021

Renovatio Asset Management, backed by Portuguese EDP Renewables in Romania and International Financial Corporation (IFC) in Moldova, has got the technical permit to connect to the national power grid a wind farm developed under a EUR 40 mln ...

EnerMin Popescu: Decarbonisation process cannot be without nuclear power

Thursday, September 30, 2021

 Energy means security, and the decarbonisation process cannot be without nuclear power, Energy Minister Virgil Popescu said on Thursday after the ministerial meeting of the Transatlantic Partnership for Energy and Climate Cooperation (P-TECC) held in Poland in Warsaw, according to a press release of the Ministry of Energy."I've said that energy means security, and the process of decarbonisation cannot be without nuclear power. At the same time, during the meeting with our ...

Danish renewable enegy company European Energy enters Romanian market

Thursday, September 30, 2021

   The Danish renewable energy company European Energy, which develops, finances, builds and operates wind and solar farms, as well as hydrogen installations and global storage capacities, has opened a subsidiary in Romania, as part of the expansion plans of international presence and strategy to becoming an important player on the local market, says a press release sent by the company .Starting with September, Ioannis Kalapodas was appointed Head of ...

Repair works at Petromidia Navodari refinery, near completion

Thursday, September 30, 2021

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Rompetrol Rafinare, member company of the KMG International Group, has completed most of the turnaround of the production units on the Petromidia platform and performs the last technical checks in order to restart the production activity in conditions of maximum safety. The technological installations will be restarted in stages and are expected to reach, by the end of October, the optimal operating efficiencies, the company informs in a press release sent to ...

ENEL X AND POWER ELECTRIC PARTNERSHIP FOR THE DEVELOPMENT OF THE PRIVATE CHARGING AREA FOR ELECTRIC VEHICLES AND THE EXTENSION OF THE NETWORK OF STATIONS IN ROMANIA

Thursday, September 30, 2021

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Enel X Romania, a subsidiary of Enel X, the Enel Group's advanced energy services business line, has signed an agreement with Power Electric to sell electric vehicle charging stations, the company informs in a press release sent to ACTMedia.. It is the first partnership of this kind signed by Enel X Romania to expand the client portfolio and accelerate the ...

EBRD launches Energy Compact for its urban sustainability programme

Thursday, September 23, 2021

EBRD launches Energy Compact, supporting bringing green and reliable energy to cities EBRD Green Cities Compact applies in 49 cities in flagship urban sustainability programme Compact raises EBRD’s ambition in line with SDG 7 and Paris Agreement on climate ...

Republic of Moldova – Gas price for the population could increase by 35%

Thursday, September 23, 2021

Moldovagaz, together with representatives of the Ministry of Economy and Infrastructure of the Republic of Moldova, is in the final stages of negotiations with Gazprom for the extension of the natural gas import contract and the establishment of the price level. A Moldovagaz official told TV6 that he expects the company to ask the regulator (ANRE) to increase the average tariff for final consumers by about 35%.   The ...

VELUX Group and Schneider Electric Extended Partnership to Accelerate Lifetime Carbon Neutral Commitment

Thursday, September 23, 2021

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The VELUX Group, the world leader in roof windows and skylights, ...

Transelectrica halves profit expectations amid high electricity prices

Thursday, September 23, 2021

Transelectrica cut the profit forecast for this year to RON 41 mln (EUR 8 mln) down from RON 91 mln projected initially, pointing to the high electricity price among others for the ...

Moldova hopes for Romanian natural gas as of October

Thursday, September 23, 2021

The minister of infrastructure and regional development of Moldova, Andrei Spanu, stated for TVR Moldova that, starting this October, the natural gas deliveries from Romania through the Iasi-Ungheni-Chisinau gas pipeline will be technically possible. "We need to liberalize the gas market so that we do not talk about dependence or independence, but about where we can buy gas at the best price," he said, according ...

CE Oltenia gets record prices on forward market

Thursday, September 23, 2021

The coal-fired power plant CE Oltenia auctioned forward electricity contract with delivery in Q1 next year for RON 600 (EUR 120) per MWh, but the electricity subsidiaries of Enel utility group had to offer up to RON 830 (EUR 166) per MWh to make sure they ...

PM Citu: OMV Petrom continues investments in Romania, not only to increase production, also reduce emissions

Thursday, September 23, 2021

Prime Minister Florin Citu states that OMV Petrom will continue to invest in Romania "not only to increase production, but also to reduce carbon emissions," following discussions had on Thursday with the representatives of the company, emphasizing the need for "additional efforts" to cope with rising prices."I am glad that OMV Petrom is continuing investments in Romania, not only to increase production, but also to reduce carbon emissions. The international ...

Electricity price in Romania triples YoY in August

Thursday, September 16, 2021

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The spot price on Romania’s day-ahead market (DAM) more than tripled in August, compared to the same month last year, to RON 554.6 per MWh (from RON 183.2 per MWh), according to the monthly report posted by the market operator OPCOM.   The total value of transactions was RON 1.042 bln, 203.09% more compared to August 2020 (when it was RON 343.9 ...

Government will compensate the electricity bills for approximately 13 million Romanians

Thursday, September 16, 2021

The Minister of Energy, Virgil Popescu, announced on Wednesday that the Romanian state will compensate the electricity bills for approximately 13 million Romanians who have a monthly consumption between 30 kWh and 200 kWh.For electricity, the difference between the lowest price on the market, 64 bani per kWh, with all taxes included, and the average, 82 bani per kWh, will be compensated. "For gas, we took a reference price of 255 lei per kWh, more than ...

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