CEZ has registered losses of 229 million lei last year in Romania, after a negative outcome of 410 million lei in 2015, mainly due to the the authorithies’ decision to postpone the payment of the green certificates, Group representatives said on Wednesday. In 2016, CEZ has reported earnings before interest, taxes, depreciation and amortization (EBITDA) of 466.2 million lei in Romania, up 8% from 2015, according to News.ro.
„These losses have been produced by the reduced provisions, but also because the authorities have postponed the payment of the green certificates, in the amount of 150 million lei”, said Jan Dubsky, the CFO of CEZ Romania.
The losses were alleviated by the wind power production, according to the company. „Last year’s positive financial results show that our investments in network modernisation and operational effciency have paid off”, said Martin Zmelik, chairman of the board of CEZ Romania.
The energy consumption levels have risen in general and we also anticipate an economic growth, which can only occur along with an increase in energy consumption, said Doina Vornicu, the director of operations of CEZ Romania.
CEZ has produced 1159 GWh electricity in its wind parks from Romania and has distributed, through the distribution division, 6.381 GWh, decreasing by 0.5% over the previous year.
„We aim to position ourselves among the top 3 energy distributors in Romania, in terms of number of power interruptions,” said Doina Vornicu, COO of CEZ Romania.
The energy consumption level has risen in Bucharest, as well as all across the country, but Dobrogea – where the wind parks are located – is no longer of interest to foreign investors.
The Fântânele wind park has produced 675 GWh last year, making CEZ Romania the biggest private producer of renewable energy in the country. The windfarm has obtained 583.037 green cerificates in the support scheme for renewable energy investments. Meanwhile, the Cogealac Gărdina windfarm produced a total of 484 GWh, gaining 409.603 green certificates.
CEZ’s hydropower stations recorded a gross production of 77 GWh, up 37 GWh compared to 2015, due to the modernization of the production process, but also due to favorable weather conditions.
Therefore, CEZ Romania considers that the latest technological equipments together with the smart processes possessed by the distribution operators have reduced the energy losses in the network, compared to what is being distributed, reaching 10.2% in 2016.
Also, starting 2016, CEZ Sale provides natural gas supply services to domestic customers as well, along with compulsory car and housing insurance, thus increasing its product portfolio with offers tailored to customers needs.
In 2016, the amount of electricity supplied to final customers was 3.369 GWh, down 2.9% from 2015, due to the general trend of reducing energy consumption from one year to another. CEZ Sale market share in the retail segment was approximately 7.18% of final consumption.