Profits for Romanian energy companies

Energy Minister Anton Anton takes questions in Parliament as part of Government Hour.

Mihai Pelin, 15.05.2018, 12:50

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.