Tag: energy sector romania

  • Profits for Romanian energy companies

    Profits for Romanian energy companies

    The Romanian national energy system is solid
    and viable, Energy Minister Anton Anton on Monday assured the Chamber of
    Deputies of Romania’s Parliament. He had been invited by the opposition Save
    Romania Union to take the floor during Government Hour to clear up some
    problems which in this party’s opinion are a threat to Romania’s energy
    security.




    The Minister said that the national energy
    strategy for the 2018-2020 period is aimed at developing the sector by
    building more facilities and upgrading the existing ones in terms of transport
    and distribution. In his view, the country’s energy grid is capable of providing
    energy security for domestic and industrial consumers, as well as for the
    states in the region. Anton Anton went on to say that at present, Romania was a
    regional pole of energy security, boasting large resources. He pointed out that
    action was being taken for the growth of the energy sector through the building
    of more facilities and the streamlining of the existing ones and through
    investments in the field. Anton Anton:




    For the first time since it was established,
    the company Oltenia last year had a profit of about 200 million lei.
    Hidroelectrica had a profit of 1.6 billion lei. Nuclearelectrica had a profit
    of 340 million lei. Though it is still in insolvency, Elcen had a profit of 45
    million lei. However, there are still problems we haven’t managed to solve, but
    we’re working on it, in the case of the Hunedoara Energy Complex (CEH) and the
    National Uranium Company (CNU).




    The MPs of the Save Romania Union were
    dissatisfied with the Minister’s report. Deputy Cristina Pruna said the
    Minister did not give an answer to questions about the Black Sea energy
    resources, the lack of investments in state-owned companies, the situation of
    the Romanian mining sector and the deadlines of the Energy Strategy. Cristina
    Pruna:




    I must sadly note that you are avoiding the
    point at issue! Up to 90% of the profits went to the state budget to cover the
    holes made by your government [a coalition of the Social-Democratic Party and
    the Alliance of Liberals and Democrats].




    At the end of the debates, Energy Minister Anton
    Anton made it clear that the deadlines of the project on the gas conveyance
    system along the Bulgaria-Romania-Hungary-Austria corridor were being observed.
    The 560 km-long gas pipeline, which is to enter Romania in the west and exit it
    in the south, is estimated at around 560 million euros. The pipeline will
    supply Central Europe with gas and will also provide a two-way flow, which at
    least theoretically means competition and a lower price for end-users. The
    deadline of the first phase of the project is the end of 2019.