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June 27, 2022
BUSINESS

Energy strategy, to be finalized by year’s end

Romania could become the first European country to achieve energy independence, Aspen Institute President Senator Mircea Geoana stated.

Romania’s energy strategy could be finalized by the end of this year, the first working meeting on this issue set to take place on June 10, Energy Minister Constantin Nita stated yesterday at the “Energy Business Summit” Conference that took place under the Economy Ministry’s aegis, money.ro informs. “We hope to outline, by autumn, a new Romanian energy sector strategy in view of 2030-2035. For this purpose we are trying to create – at the ministry’s level – a working group for Romania’s Energy Strategy. As part of the new strategy we will stress elements of vision, trying a new approach compared to the one used when devising the old strategy which only detailed the energy resources that our country has,” Constantin Nita stated.
According to him, nuclear energy could represent 10-12 per cent of Romania’s total installed capacity within the new strategy. “If we manage to make reactors 3 and 4 of the Cernavoda nuclear plant operational then we will obtain another 2,400 Megawatts,” Minister Constantin Nita added.
According to a scenario drafted by the European Union for the year 2030, the energy mix will come from renewable sources (18 per cent), coal (12 per cent), oil (33 per cent), natural gas (22 per cent) and nuclear energy (14 per cent).
Likewise, the minister also referred to the renewable energy sector, pointing out that the European Commission “mostly” agreed with Romania’s proposals on the modification of the legislation within the renewable energy sector, proposals that nevertheless do not entail the halving of green certificates but only “a postponement.”
“The European Commission appreciated that the law was debated, that we consulted them, it mostly agreed with our proposals,” Nita added. “There will be no reduction, no halving of the number of green certificates. Only a postponement,” he clarified.
Present at the same conference, Aspen Institute President Senator Mircea Geoana stated that Romania is the first EU country that can attain energy independence, realitatea.net reports. “If we rapidly lower consumption and enhance the degree of energy efficiency we could be an independent country today too. Likewise, Romania can become a big exporter,” the Senator explained. The official also underscored that Romania can export to the Republic of Moldova.

Nuclearelectrica’s listing, in June
Gabriel Dumitrascu, the head of the Office of State Participations and Industry Privatisation (OPSPI), stated yesterday that the plan for the listing of Nuclearelectrica will be published on June 15, and the sale of 51 per cent of Electrica shares through the stock exchange will take place in July. “The plans will be published two weeks before,” Dumitrascu stated during the same conference.
The listing of 15 per cent of natural gas producer Romgaz Medias will take place in October, while restructuring and a “master plan” will be needed for the listing of the Oltenia Energy Complex. Asked why the state wants to give up control of Electrica, a company that registers profit, Dumitrascu invoked the privatization law and stated that in this way the state will have higher revenues and will still be able to take decisions within the company.
In an agreement signed with the IMF last year the government took the commitment to privatize Electrica’s distribution and services subsidiaries. According to Dumitrascu, that plan was dropped because it was noticed that the state would obtain more money by giving up 51 per cent of Electrica’s shares. He pointed out that Electrica can become much more efficient once the state cedes control of the company. According to Dumitrascu, the state hopes to find a strategic investor that would buy 51 per cent of the Hunedoara Energy Complex’s capital, but “things are more difficult.”

Oltenia Energy Complex negotiating EUR 160 M loan from EBRD
The Oltenia Energy Complex is negotiating a loan of up to EUR 160 M from the European Bank for Reconstruction and Development (EBRD), in order to modernize an energy production group. “With the money we want to modernize group 6 in Turceni, which has an installed capacity of 333 MW. Basically the costs would be EUR 500,000 per MW, compared to EUR 1.5 M in general,” Oltenia Energy Complex director general Laurentiu Ciurel stated.
The Oltenia Energy Complex, controlled by the Ministry of Economy, was set up last year through the merger of the Turceni, Craiova and Rovinar thermal power plants with the Oltenia Brown Coal National Company.
At the same time, the energy producer plans to build, with a Chinese company, a new 600-MW energy group. The entire energy produced by this unit will be exported. According to Ciurel, the feasibility study for this project is 50 per cent complete.

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