eft energonews energonews 20 may 2013.pdfvosganian mentioned that there bust be an overall image in...
TRANSCRIPT
EFT ENERGONEWS 20.05.2013
1. DOMESTIC MEDIA
2. ANRE, Transelectrica, OPCOM useful information
1.1. A. Electricity
A NEW STRIKE FOR RENEWABLE SOURCES
Small producers of green energy charged for imbalances
Transelectrica sources sustain that the energy system records a very high demand for
connection to the distribution and transportation network of wind power plants and photovoltaic
plants with an installed power less than 10 MW each. As such plants would contribute with a
power of more than 1000 MW installed in the system, with a volatile operation, Transelectrica
requested the market regulator (ANRE) to include the solar farms and wind farms with an
installed power between 5 and 10 MW in the dispatchable units.
Therefore, such farms shall be responsible for the imbalances brought to the system. At this
moment, ANRE debates this request, the quoted sources sustain. BURSA newspaper has
recently published, in exclusivity, the information that the wind power plants could be penalized
for the imbalances brought to the energetic system. Our energetic system has difficulties in
balancing the volatile output of wind power plants (approximately 2.000 installed MW operational
now). Considering the major decrease of the energy demand and the higher production of wind
energy of the past months, the coal plants “set their sail to every wind”, having great costs
generated by often stops and starts of great groups within Oltenia Complex (Turceni, Rovinari,
Craiova). Nuclearelectrica and Hidroelectrica also met difficulties at selling the energy lately.
In this context, the Executive has analyzed and wishes to discuss with ANRE several options
for changing the rules on the Energy Balancing Market, so that the groups causing such
imbalances should be penalized.
Our sources state that an option would be that the wind power plants no longer receive green
certificates for the energy produced in addition to the forecasted quantity and notified to the
National Dispatcher, and the minimum admitted price for daily offers on the Balancing Market
managed by Transelectrica would be unique for all producers, not differentiated per types of
resources. This measure, corroborated with the decrease of the validity of green certificates from
16 to 6 months, would lead, according to the documents discussed by the Government, to a
decrease of one third of the number of certificates issued and to a decrease by approximately
50% of the certificates’ trading price.
Another option that would lead to the decrease of costs borne by consumers for the
payment of green certificates would involve the change of plants’ stopping rules when production
is too high. Therefore, the Energetic Dispatcher could discharge those causing imbalances
(especially caused by wind power plants) instead of stopping the units depending on the
minimum admitted price, as the Balancing Market currently operates.
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The minister Vosganian does swop. Investments against green certificates
Great energy consumer industries could benefit from easements as concerns the price paid for
electricity, but on one condition – to invest in Romania. The business would be interesting for
producers, because the electric power bills have increased significantly due to the charges for
green energy.
„ArcelorMittal Galaţi, Alro Slatina and Feral Tulcea could benefit from easements as concerns the
final price paid for energy, as concerns the distribution, cogeneration charge and impact of green
certificates on invoices, if they make important investments”, stated the minister of Economy,
Varujan Vosganian, on Wednesday, during a conference on nuclear energy, informs Agerpres.
„We have met with ArcelorMittal, Alro, Feral, who reached the conclusion that we should be
discussing on the cogeneration charge and on the impact of green certificates as concerns the
final price of electric power, as well as in the status of distribution networks. There are certain
companies activating in the heavy industry that requested easements for distribution,
cogeneration and green certificates, promising consistent investments. We made progresses
with ArcelorMittal and Feral, they could bring powerful investments”, stated Varujan Vosganian.
State preoccupations
The Romanian authorities analyze the impact of the measure of eliminating the cogeneration
charge from the electric power bill, this being applied only to units whose production is not at high
efficiency standards, recently stated the delegated minister for Energy, Constantin Niţă.
At that moment, the vice-president of the Romanian Energy Regulatory Authority, Emil Calotă,
pointed out that the Authority shall issue a monitoring methodology in order to grant the bonus to
producers of cogeneration energy based on orders of merit, and a decrease of the invoice for the
final consumer, after reducing the amounts to be paid for such type of energy shall be sensed as
of the beginning of the year 2014. Calotă mentioned that the cogeneration energy’s percentage
of the final invoice is of 5%.
Exclusive: Why is ANRE forced to mop up the Government?
ANRE order, which shall amend the rules of the balancing market and supplements the GD
138/2013, had no reaction from the market players. Even if the concerned Order is in public
debate, nobody, at least according to our information, brought any suggestions. It is still an
enigma how this passivity state can be explained, if the changes influence several energy
producers and not only the two energetic complexes. It is most probable that strings are being
pulled, so that one hand washes the other and the operations mystery on the balancing market
be well kept.
Energy-Center is the only publication that tried to point out that ANRE intervention on the energy
market is a forced one, determined by the extremely powerful pressures of the miners in Oltenia
Basin (belonging to CE Oltenia), sustained by powerful political men. And, as nobody should
understand anything, and ANRE independence should not seem influenced, the Order project
publicly debated is an amalgam of sentences that maximize confusion. All we have to
understand is that this Order is to justify the enforcement of GD 138/2013, on the priority access
within the system of Energetic Complexes Oltenia and Hunedoara.
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We will prove below that ANRE Order, which is still under public debate, is a simple fake and that
it was not necessary in order to sustain the two energetic complexes.
* ANRE Order, which is under public debate, seems to be an initiative to amend the secondary
law which lacks relevance as long as GD 138/2013 has at least the same legal power as ANRE
orders. Moreover, ANRE repeated in its project a part of the provisions of GD 138, which
breaches the discipline in regulations’ issue. On the other hand, ANRE included provisions that
reason into the “safety of electric power supply”, which is not its liability, but which is provided in
the legal obligations of the ministry and of the national company for energy transportation,
Transelectrica.
Who does ANRE order advantage?
At a first glance, ANRE would advantage the miners within Oltenia Energetic Complex, who
came to Bucharest in order to curse the regulating institution directly from the street, from
beneath its windows. This is not an advantage for the institution, when one does something
under pressure, however being obliged by the law to be independent. For ANRE leaders who, as
we well know, have been politically appointed, this is a real benefit.
* As concerns Oltenia Energetic Complex, those who are aware of the market mechanisms know
that the decrease of the lower offering limit from lei 10 to lei 0.1 (as the publicly debated Order
provides) can not help Oltenia Energetic Complex that much, to obtain profit from production of
electricity, but from non-production, therefore without any coal consumption. It could have an
important advantage on the market due to limiting the offer by hours, not by days, as the
previous ANRE Order 33/2012 provided. But, this gag does not change the coal consumption
either. Therefore, another advantage would be for CE Oltenia’s management, who benefits from
the fact that they are not held liable for this situation.
* Transelectrica is the one that benefits from ANRE move, as the company’s representatives
states that they could not apply the GD 138/2013 due to the absence of ANRE regulation.
Actually, Transelectrica had the legal freedom to act, but in this situation the costs involved by
the so-called "safety of electric power supply" would have been irrelevant, and would have
created temporary money problems. It is more important the fact that applying the GD 138 could
have reopened a Pandora box for the “marionettes” and would have re-brought to discussions
the real arguments based on which the GD 138 has been issued. This is why both the ministry of
energy and the government pressed ANRE to avoid the subject.
* The prime minister Victor Ponta, the one who should and could solve the situation without any
other complications, gained time and potential to attack the energy market, a nail to all
governments used to make their point but which, from legal point of view, is not at Executive’s
hand.
And the surprise is …
* This situation we are in points out that the economic focus solution that the government has
imposed for less than one year by creating CE Oltenia and CE Hunedoara is improper. A real
monopole of coal mixed with the electric power production plants. The small spot of Romanian
coal has been extinguished. Even if CE Oltenia benefited last year from a very advantageous
solution of the energy market, it did not know how to take measures for “dark waters” period,
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when no coal production is necessary and revisions must be programmed, as well as plant
repairs and miners’ health improvement by means of temporary outdoor activity. The great
“manager” that passed the competitions on the first position (obviously politically), managing CE
Oltenia even at this moment, has proved his ability.
Who is in disadvantage and for what?
Miners are usually oriented towards attacking the one that can not solve their problem. Luckily, in
the mean time, they got smarter. Electricians are threatened by salary decrease; consumers,
payers of electric power are made, again, to forcedly admit the affirmations of politicians from
consumer’s pocket for the so-called non-polluting – renewable production.
And things do not stop here. We, however, promise to be back.
Varujan Vosganian: I do not admit holding the energy prices lower in order to allow the
industry not to make modernization expenses
There must be a wide vision in Romania so that energy prices’ liberalization could be borne by
the industry, but it has to pay its debts as concerns the modernization investments, stated
Thursday, in Brussels, the ministry of economy, Varujan Vosganian.
“We must discuss how the industry must absorb the liberalization process, without its
competiveness being affected. I know the energy department has the intention to discuss this
calendar with the European Commission. As concerns my liability, I already discussed with my
colleagues in the industry sector, with great consumers, with Feral, ArcelorMittal, Alro, Mechel,
with the chemical industry and I explored their reactions”, stated the minister of economy, at his
visit in Brussels on occasion of the high meeting on steel industry chaired by the European
commissioner for industry and entrepreneurship, Antonio Tajani.
Vosganian mentioned that there bust be an overall image in Romania “related also to the
cogeneration charge, green certificate’s regime, distribution of costs by ANRE per distribution
area, so that the electric power, as final price, somehow compensates the liberalization with
other components and be bearable for the industry”.
He also underlined that the industry has the liability to make modernization investments. “This is
why the discussions I have had with all these companies had a double meaning. On one hand,
the responsibilities the state should have, as well as the responsibilities the companies should
have. And this due to the fact that I am against keeping the energy prices lower in order to keep
the industry from making modernization expenses”, said the Romanian minister, Agerpres
transmits.
Lawyer: State producers start to regret the absence of bilateral energy contracts
After being pointed out for years as reasons for the disastrous situation of state companies,
bilateral energy contracts reached to be, paradoxical, regretted by energy producers included in
the Ministry of Economy’s portfolio.
We all understood that the market is operational, but the question is in whose benefit does it
operate? The prices will be liberalized, but the methods are weaker. Bilateral contracts, both for
Hidroelectrica, and for Oltenia Complex, would have allowed the producers to have access to
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financing and offered stability. Another positive aspect is that consumers benefited from energy
at lower prices. The price has increased for Hidroelectrica, but it has decreased for the general
market. The prices are the same for the consumers that already had effectual contracts with
other producers, because these contracts are still effectual“, stated Cosmin Stavaru, partner at
the law firm Bulboacă & Asociaţii, during an energetic forum.
Hidroelectrica denunciated last year the bilateral contracts concluded with Energy Holding, Alpiq
Industries, Alpiq Romenergie, EFT and Europec, as well as the ones with Deva and Paroşeni
thermal power plants.
Oltenia Energetic Complex has high problems due to the decrease of consumption, plus the
great production in the wind sector, which removes the company from the market. It has had,
until recently, 14,000 miners on forced leave due to non-operational groups.
According to Valeriu Binig, manager at Deloitte, CE Oltenia has had the highest market share
last year in the electricity sector, of 33%, while this year it operated only with a couple of groups.
"Suppliers started to waive the PCCB contracts and buy from the spot market now (from
OPCOM- en). Therefore, creditors start to wonder is the companies to which they granted loans
will pay them at the rates presented in the business plan", said Binig.
Suppliers buy from the spot market due to the price, which is much lower than the long term
bilateral contracts market. And this is possible because the producers of the renewable sector
receive, besides the energy, the green certificates which they sell separately. A green certificate
is granted at the delivery of one MWh of energy from green sources. Its minimum price is of euro
27 and the maximum price is of euro 57.
Miners take the capital by ASSAULT: 100 employees of CE Oltenia will PROTEST în
Bucharest
100 miners from Oltenia Energetic Complex left, on Tuesday morning, to Bucharest, to protest in
front of the Romanian Energy Regulatory Authority.
The employees of the complex are dissatisfied that the company does not sell energy and are
afraid for their jobs. The person in fault in this respect is, in their opinion, ANRE, who supports
the producers of renewable energy, according to Digi 24.
Miners from Jiului Valley will organize protests each day of this week, even if the Government
has announced that it will favor the purchase of energy from Oltenia Energetic Complex, which is
one of the most expensive producers of the system. Hundreds of persons are to be dismissed in
2014.
100 miners left from Gorj. This is the first day of protests, which are programmed until the end of
the week.
On May 24th 5,000 more miners will arrive in Bucharest for protests, unless the issue is solved
this week.
ANRE gave in: the balancing market rules are changing
The waiting of the Regulation Authority in the matter concerning the delicate situation of Oltenia
Energetic Complex has reached to an end. Subject to the pressures that are not related to the
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independence of the Authority, there was decided that the review of Order 33/2012 concerning
the set up of certain balancing market rules applicable to the production of electric power
benefiting from promotion systems should be put in practice. More properly said, the Government
Decision 123/2013, concerning the adoption of certain measures for the safety of electric power
supply, dedicated to Oltenia and Hunedoara energetic complexes must be urgently applied and
included in the secondary legislation adopted by ANRE.
Energy-Center wrote a couple of days before: “ANRE, insistently accused by Mr. Laurentiu Ciurel
for not applying the provisions of the Decision made in favor of the two energetic complexes,
seems to indeed play the independence card. We will see when the regulation authority will give
up in front of these pressures. It is a fact that we are at the beginning of a great battle or, rather,
of new great arrangements sheltered by the “national interest”. The social aspect is in stake, as
well as the approximately 20,000 employees of Oltenia Energetic Complex. However, pay
attention, this is a trick”.
It seems that ANRE did not cope with the pressures very well, even if the chairman Niculae
Havrilet admits that CE Oltenia had nothing to loose from the fact that it did not sell electric
power lately, “Oltenia Energetic Complex is on the reserve bench. This reserve is paid, and their
contracts are taken over by the other producers. They receive more money than they would have
from production and sale. Oltenia Energetic Complex records no loss”, said ANRE chairman for
Hotnews. And then, why the urgency? Obviously, not the CE Oltenia energetic units are the
problem, but the incorporated mining exploitations, which gather about 16,000 miners. ANRE
had to consider them when it took the decision to change the balancing market rules.
Therefore, the proposal to review Order 33 was posted on ANRE website for discussions. “The
review was imposed due to the change of specific provisions of the initial legislation and the
entrance into effect of certain provisions applicable in the balancing market field included in the
Electricity and Natural Gas Law no. 123/2012 and in the GD 138/2013 for adopting certain
measures for electricity safety supply”, according to a press release of ANRE.
The document to be discussed supplements the participation manner to the balancing market of
dispatchable production units established by Order 33/2012, meaning that it mentions how the
thermal dispatchable production units, object of the GD 138/2013, will operate on the balancing
market.
The document to be discussed also updates the dispatching mechanism per priorities generated
by the Transportation and System Operator's experience in applying it until now.
The proposal to review Order 33/2012 was based on analyzing the operational results of the
balancing market obtained until now and on the proposals of the participants to the balancing
market, of the parties liable for balancing and of the Transportation and System Operator,
according to ANRE press release source. We will analyses during the following days what this
review of Order 33 involves and why was considered now that this intervention is necessary.
How do miners negotiate with ANRE the granting of new facilities for CE Oltenia thermal
power plants, while the general manager is in China
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The trade union members of Oltenia Energetic Complex threaten with the organization on May
24th of a great protest to which 5,000 employees of the company are to participate. The miners
have already started to mark-out the Romanian Energy Regulatory Authority (ANRE), motivating
that this institution is faulty for the fact that CE Oltenia does not manage to sell energy on the
market. Actually, Oltenia does not manage to sell because its production is inefficient, at very
high costs, while the energy sale prices have decreased very little on the free market. The
consumption being low, the best sold energy is the one from hydrological sources, nuclear and
renewable sources. At this moment, the trade union members pressure ANRE to allow the
energetic complex’s to be the first of the system. We must mention that Laurentiu Ciurel, "the
private manager" of the company and former vice president of PSD Gorj, is absent from
discussions, being in China for one week, with the delegated minister for energy, Constantin
Nita.
In other words, in these stressful days, Oltenia’s faith is decided by the trade unions.
Oltenia Energetic Complex was set up last year by means of a merger between the units
Turceni, Rovinari, Craiova and Societatea Nationala a Lignitului Oltenia. Approximately 19,000
employees work at Oltenia, out of which 6,000 in energetic field, and 13,000 in mining field.
Oltenia Complex produces at a very high cost towards the prices allowed on the market,
meaning around 50 euro/MWh, considering that the average sale price has decreased lately
below 40 euro/MWh.
CE Oltenia has a private manager since January. On January 21st 2013, the Supervisory Council
of CE Oltenia appointed the interim general manager of the company at that moment, Laurentiu
Ciurel, former vice president of PSD Gorj, in the position of General Manager, with a mandate of
four years. This was a controversial appointment, as the Appointment and Remuneration
Commission only interviewed Ciurel, ignoring the other persons who were on the short list. Ciurel
was already managing the company, being appointed interim general manager during the
summer of 2012.
This private manager did not present any streamlining plan or costs decrease plan. Moreover,
instead of adopting a cost decrease program, CE Oltenia and the other problematic producer,
CE Hunedoara, received Government facilities by means of a decision (HG 138/2013) approved
in April which allows guaranteed and priority access into the energetic system to thermal power
plants. Moreover, Nita wishes to merge these inefficient units with the more effective units, such
as hydrological power plants. However, the GD 138/2013 could not be enforced, even if the term
was the middle of April, due to an order of ANRE, 33/2012, which establishes the entrance order
on the balancing market. Based on an “order of merit”, grounded on the costs decrease principle,
the thermal power plants are the last ones to access the balancing market, priority having the
renewable energy and the other more efficient producers.
Politics disguised in „private CEO“
Daniela Lulache, chief at Nuclearelectrica has no experience in energy
Daniela Lulache, the former general manager of Fondul Proprietatea between 2008 and 2009,
will become the general manager of Nuclearelectrica, one of the most powerful local producers of
energy, with a market share of 20%.
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Lulache, economist, with no experience in the field she is now managing, was appointed in this
position based on the GEO 109/2011 regarding the corporate governance of public enterprises,
being proposed by the consultants at Quest Advisors, Transearch and the lawyers at the law firm
Boştină şi Asociaţii.
„The consultant put its stake on her managerial abilities“, explained Gabriel Dumitraşcu for ZF,
chief of the State Participation and Privatization in Industry Office.
Therefore, Lulache becomes the general manager, also having the quality of member of the
board of directors, of a company having a business of euro 450 mil., with a high specialty degree
– nuclear energy. This apolitical appointment in the highest position possible within
Nuclearelectrica, disguised in a „ private CEO“, was done even if an electrical engineer must
study for years and be specialized in order to work in this sector: nuclear energy.
The disaster at Cernobîl or the more recent one at Fukushima point out that the security risks in
this industry are huge, and these political interferences increase the risk.
Lulache did not comment on her appointment and neither the Quest Advisors representatives
offered any explanations in this respect.
Lulache was proposed in October 2012 on the position of general manager of Nuclearelectrica,
but she refused. Being an economist, Lulache has had different financial advisor jobs before
being co-opted into the management team of Fondul Proprietatea ever since it’s set up in 2005.
She received the mandate to Fondul Proprietatea management during PNL government led by
Călin Popescu-Tăriceanu, who was also the founder of Fondul Proprietatea. According to the
information published in the press, Daniela Lulache and her husband, Cristian Lulache are the
wedding parents of Cristian David, the former minister of interiors during Tăriceanu government.
Another liberal, Daniel Chiţoiu, is the one who proposed her during last year at Nuclearelectrica
management. At this moment, Daniela Lulache is advisor of BNR vice-governor Bogdan Olteanu.
Among other positions occupied during her career is the managing partner at Eqvon Finance, a
business consultancy company which she set up after her dismissal from FP. Lulache has also
worked at Raiffeisen Bank, as manager of the credits and redemptions restructuring division, as
well as at AVAB.
„The proposals of the appointment committee were Mrs. Lulache in the position of general
manager and Mr. Ionel Bucur (current manager of Cernavodă plant – ed. n.) in the position of
nuclear operations manager. These nominalizations were made based on the advisor’s report.
Each received 6 votes out of seven within the board of directors, because each of them refrained
from voting their own nominalization“, explained Dumitraşcu. According to him, during the
following meeting of the shareholders, which has not been programmed yet, the mandate
contracts shall be signed.
The employees in the nuclear industry sustain that the practice of appointing for the management
of certain profile companies of managers from outside the sector is a novelty, as long as the new
managers attend specialty trainings, and, more important, the employees of the operational
structures continue to be appointed in the positions depending on their experience in the field. In
this case, the new nuclear operations manager of Nuclearelectrica is the current manager of
Cernavodă plant, Ionel Bucur, who holds this position since 2007, but who has a 30 years
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experience in this field. The board of directors of Nuclearelectrica, includes, besides Daniela
Lulache, Carmen Radu, former chairman of EximBank, Alexandru Săndulescu, the current
chairman of Nuclearelectrica’s Board of Directors, Alexe Alexandru, OPSPI head of department
deputy, Ionel Bucur, manager of Cernavodă Plant, Paul Dragoş Popescu, general manager of
EnergoNuclear, the design company for reactors 3 and 4, and Dan Popescu, general secretary
of Nuclear Agency &Radioactive Waste within the Ministry of Economy.
According to certain financial data published by Fondul Proprietatea, minority shareholder at
Nuclearelectrica, the company has had a gross profit of lei 6,6 millions during the past year, to
businesses exceeding lei 2 billion.
Marlene Holzner, spokeswoman of the Commissioner for Energy: The European
Commission stimulates the Romanian authorities to continue the gradual liberalization of
energy prices
The Romanian gas consumers, especially InterAgro, insistently request the Romanian authorities
to postpone by one year the gas prices liberalization calendar. This would mean that Romania
would not observe the commitments undertaken towards the European Commission and IMF.
The European Commission was informed on the fact that “certain industrial clients request the
postponement of gas prices’ liberalization for industrial consumers by one year”, but “stimulate
the authorities to continue the gradual liberalization of energy prices”, stated for HotNews
Marlene Holzner, spokeswoman of the Commissioner for Energy. In other words, the
Commission requests the observance of the calendar. “The Commission also requests the
proper protection of vulnerable consumers", also said Marlene Holzner.
We remind that the authorities have not succeed until now to adopt measures related to the
protection of vulnerable consumers directly influenced by prices' liberalization, due to which
reason Romania was brought to justice at the European Court of Justice.
“The Romanian government undertook to liberalize the prices on energy markets based on an
energy roadmap. The Commission considers that this kind of commitment would be observed.
The Commission, jointly with the International Monetary Fund, fully sustains the commitment of
the Romanian authorities as agreed in the roadmaps. Moreover, it stimulates the authorities to
continue the gradual liberalization of energy prices, process that allows the sustainable
development of the Romanian energetic sector and the accomplishment in better conditions of
the investments in energetic networks in order to ensure their future durability. The Commission
also requests the proper protection of vulnerable consumers”.
Marlene Holzner mentioned that until now, the European Commission has not received any
application from the Romanian Government concerning the postponement of prices’
liberalization.
Ponta: "We must become energy exporters
During the following period, our country must have several preoccupations in the energy export
field said, yesterday, the Prime Minister Victor Ponta, on occasion of concluding the "Energy
Pact". He underlined that: "We have the natural chance of being very little dependant on the
import of energetic resources. Therefore we must take the necessary measures in order to
develop all kinds of energy and to be able to become energy exporters. Neither of these types of
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natural resources for energy production must kill the other. However, we must optimize the
energy consumption and energy production costs, in order to have a cheap energy”.
The Chief of Executive underlined that the energy must be governed by the rules of free market,
and the state will encourage the access on the market of as many private investors as possible.
Victor Ponta proposes that during the following period our country should have the courage to
take important decisions in the energetic field and energy resources exploitation field in order to
become and important player in the area.
The energy pact was launched by the academic environment of our country, controlled by the
Romanian Academy, being supported by all energetic companies. The pact promotes eight
economic development principles, respectively the increase of energetic security, optimizing a
balanced mixture of energy, energetic efficiency, renewable energy, environment protection. To
these are added the support of research-development activity, the creation of a stable,
predictable and operational legal environment, the assurance of corporate governance of state
companies, the increase of Romania’s importance as player on the European energetic market.
Decrease of “electric power” bill
The legal changes supporting the great energy consumers could lead to the decrease by two
figures of the invoices paid by them, stated the minister of Economy, Varujan Vosganian, during
a press conference.
“In order to counter-balance the energy price, we have the possibility of decreasing the
cogeneration charge, green certificates, and the method by which ANRE previously includes the
distribution and transportation costs. We can discuss these with the producers of aluminum,
steel, chemical products. We are not considering the relocation of the smart guys from energy to
petro chemistry or steel industry. These are economic matters, but specific methods can be
found for great consumers. We will be oriented towards long term contracts providing the
situation of unfavorable costs”, stated Varujan Vosganian.
He also mentioned that all legal changes made to support the great consumers would decrease
the invoice paid by them for energy by two figures.
“The legal changes would decrease the invoice significantly, maybe event by two figures for
companies”, Vosganian added.
As concerns the price paid for natural gas, the official mentioned that EU recommends the
continuation of the calendar established for liberalization.
“As concerns the gases, we must discuss, it is probable that EC does not agree with this. The
recommendation is that Romania continues its established calendar. We must discuss with great
consumers and find solutions”, the minister of Economy mentioned.
The Government agrees with the idea of setting up an energy investment fund
The Government agrees with the idea of setting up an energy investment fund and the chances
are high that the bill is approved by the Executive, said sources close to the situation. The legal
initiative of setting up such funds belongs to the deputies Dumitru Chiriţă, Marin Gheorghe and
Florin Tătaru, all three – members of the Committee for Industries and Services, and it first hit on
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the resistance of the authorities that did not wish to give up a budget financing source (money
from packages of shares sold by energetic companies, money from dividends).
Apparently the Government still analyzes the elements of this fund, as there is the observation
that it should be fed only by shares of energetic companies, not with all holdings of the Ministry of
Economy within the company it manages. Therefore, if it passes the Government, the fund has
the chance to receive state’s minority and majority holdings in the energetic field, our sources
also say.
The normative bill concerning the set up of the “Romanian Fund for Strategic Investments in
Energy and Energetic Resources” was recently submitted to the Senate and received, on April
16th, the note of the Legislative Council of the Standing Bureau of the Senate.
Many specialists of the energy market as well as the companies in the field view this bill with a
friendly eye, because, in their opinion, it stands for the best method of financing our great
energetic projects (is transparent and cheap).
At this moment, the state cashes in dividends and the money goes to consumption. The
energetic companies have very little money from own sources in order to finance the
investments. Therefore, the companies had to borrow great amounts of money from banks, at
very disadvantageous interests, in order to make investments.
A recent assessment points out that during the following years our energetic sector needs
investments of approximately euro 10 billions (building new transportation lines, new production
units, re-engineering the existing ones). The investments fund can support the ambitious projects
in the gas field (new exploitations and explorations, new transportation pipes) both by granting a
more advantageous financing and by participating to partnerships with private investors and/or
by drawing additional funds from third markets.
OPCOM
Green certificates market
The weighted average price of a GC for the most recent 3 ended months of trading on PCCV, (December 2012-February 2013), calculated according to the provisions of the law 134/2012, is of 241,49 Lei/CV
Prices recorded on Day Ahead Market
Prices and volumes 15.05 16.05 17.05 18.05 19.05 20.05 21.05
Average price [Lei/MWh] 152,31 160,14 129,63 163,67 129,63 121,10 151,02
Total daily traded volume on Day Ahead Market
43.240 45.233 43.998 37.162 31.613 39.544 43.912
ROPEX_FM_M Futures markets (PCCB) 2012-2013 [lei/MWh]
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
ROPEX_FM_2012 217,82 210,23 216,25 216,44 214,36 215,45 215,19 212,94 217,15 220,40 222,46 223,00 223,13
ROPEX_FM_2013 216,32 232,39 230,82 224,97 217,35 213,30 211,52 214,69 214,20 212,98 211,27 210,97 211,00
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TRANSELECTRICA
Production
Consumption/Production
Daily average Consumption Production Coal Gases Waters Nuclear External balance Wind Photo
13.05 5718 5585 1285 856 2665 698 134 80 2
14.05 5965 5706 1582 490 2360 706 259 566 1
15.05 5982 5717 1703 499 2596 697 266 219 2
16.05 5984 5927 1720 514 2708 701 57 282 2
17.05 5994 5953 1745 510 2475 700 41 522 1
18.05 5498 5275 1517 522 2313 706 223 215 2
19.05 5012 4730 1482 521 1883 706 281 135 2
Comparing values for the same day, different years
Graphics, Map
On Tuesday 14.05.2013 Tuesday 15.05.2012
Consumption of electric power
Average 5981 6448
Maximum 6899 7307
Export/Import 266(export) 108(import)
Average capacity
TOTAL (Pmed) 5715 6341
Out of which:
Coal 1583 2492
Hydrocarbons 493 456
Nuclear 708 701
Wind 534 387
Hydro 2396 2253
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Forecast of flows and levels
between 20.05.2013, 07.00 a.m. – 27.05.2013, 07.00 a.m.
The water flow at entrance into the country (Bazias section) shall decrease during the first four days of the
interval up to the value of 7200 m3/s, and then shall increase up to the value of 7400 m3/s, being above the
multiannual average of May (7250 m3/s), except for 24.05.2013.
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The information is destined to EFT Romania clients and is for information only. It is taken from different public sources and EFT Romania can not be held liable, in any way, for any damages or issues that might result from its use. Please contact EFT Romania for any other information at tel. no. 0040 21 303 36 23