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Romania Energy Report - Electricity - Q4, 2014

  • December 2014
  • 31 pages
  • Emerging Markets Direct Media Holdings
Report ID: 3307231

Summary

Table of Contents

The report covers the period since August 1 to December 15 - including time series up to full-Q3, 2014. It also includes the detailed energy balances for the year 2013 [released in the fall of 2014]. At the end of the report, you can check the content of the previous similar report - issued on July 30.



LONG-TERM INDUSTRY SCENARIO. Romania's energy sector is built on relatively abundant primary resources - moderate crude oil reserves, significant natural gas reserves [nearly self-sufficiency and offshore potential], abundant coal deposits and significant wind power potential. Resources are depleting, but the energy-intensive industries are also shrinking as the energy becomes more expensive. There exist a functioning power market and the potential for export of power is robust - yet not supported by sufficient transfer capacities. There exist on the other hand robust potential for the development of such connections [for power and gas] - supported and actually required by the EU directives. The government as well as other policy-makers lack any firm strategy for the sector. In the absence of such internal drive, country's policies fully rely on the EU directives - meaning adequate but slow response to challenges and acceptance of rather global [than local] optimisation. Excessive green energy support created investment euphoria - but part if the support was already reversed prompting protests from investors.



ONGOING STORIES - POWER. Romania has joined the single day-ahead market of Czech Republic, Slovak Republic and Hungary. Local producers seek export opportunities. Moldova seems a good opportunity, given their dependence on imports from Ukraine. Hidroelectrica opens offices in Hungary and Serbia.



Key Points:

oRomania confirms 3.2% y/y GDP growth in Q3, expects 2-5% growth rates in coming years

oEC agrees to waive green energy surcharge for large Romanian industrial consumers

oIPO at CE Oltenia power generator scheduled for November 2015

oQuintana of US interested in brown coal / power company CE Hunedoara

oUse of primary energy resources up 2.3% y/y in Q3 as more oil refined

oNet use of primary energy resources contracted by 4% y/y to 12.8mn toe in the H1 2014 ...

o... - while the gross intake of raw energy resources increased by 3.4% y/y to 15.4mn toe.

oDomestic power production up 8% y/y in the 12M ending Sep-14

oHydropower output surges by 26% y/y and accounts for 28.5% of total

oWind power generation increased by 13% y/y and accounted for 7.6% of total

oRomania achieves day-ahead electricity market coupling with CZ-SK-HU area

oEnergy market regulator moves to standardise power trading

oNuclearelectrica accepts sole bid from Chinese company for EUR6.5bn nuclear plant expansion

oRomania invites Hungary to join EUR1bn Tarnita reversible hydropower project

oRomania wants Moldova as partner in nuclear power project

oChina Huadian Engineering ready to invest in EUR1bn coal-fired power plant in Romania

oSale of Enel's holdings in Romania remain in limbo

oCEZ not to exit Romanian market, but also plans no takeovers

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