The Government invokes the arithmetic of the disaster: at 5 lei obtained, a tax of 32 lei

The Government’s intention to extend the charging system for offshore and onshore gas has created a tense market situation. Investors accuse tax instability and say that these measures will be felt in consumer bills and, on the other hand, they will reduce or even block billions of dollars in investments. The reference price cuts the appetite of investors – According to an analysis by the Petroleum and Gas Employers Federation, the linking of the reference price at the Vienna Stock Exchange would have dramatic effects for the Romanian natural gas extraction and processing industry. Thus, taking into account the November 2018 reference price of 121 lei / MWh and the 90 lei / MWh average price on the Romanian Commodities Exchange for deliveries in November 2018, an effective tax rate of 640 %.

Source: Jurnalul National

Hidroelectrica proposes to the shareholders to distribute additional dividends amounting to 687 million lei

The energy producer Hidroelectrica proposes to the shareholders to distribute additional dividends amounting to 687 million lei, although it originally requested that this amount be 550 million lei, according to the general meeting of the Shareholders convened on 19 December 2018. Thus, on the new agenda there are both proposals, both regarding the distribution of 687 million lei and the amount of 550 million lei.

Source: Agerpres, Profit

The Romanian energy system is morally exhausted

The National Energy System (NPS) is morally exhausted and needs backup, the former Energy Minister, ALDE MP Andrei Gerea, drew attention to a special conference. „The so-called reforms made in recent years have also affected. That it did not matter anymore. The idea is that we all want to have clean production capacities, but for two or three years, there is no investment in Romania in renewable energy produced by sunlight or wind, for two reasons: once they have the support schemes disappear, and secondly – because any additional renewable energy capacity needs NPS protection systems. The National Energy System needs a backup and this is provided by the coal side. The Romanian energy system is exhausted from a moral point of view.

Source: Focus Energetic, Economica, DC News

The cogeneration contribution, paid by all electricity consumers in the invoice, was increased by 38%. ANRE Order

The contribution for efficient cogeneration, a tax collected from all electricity consumers in the country to support district heating plants, was increased after a period when it had fallen. The contribution for high efficiency cogeneration was increased to 0.0105 lei / kWh, excluding VAT, according to an order of the President of the Energy Regulatory Authority (ANRE), no. 192, published in mid-November in the Official Gazette.

Source: Economica

ANRE ensures by law a 10% profit per year for companies that have gas deposits in Romania

Romgaz and Engie, the two companies that have gas storage facilities in Romania, have a new state-regulated pricing methodology. ANRE provides a return of 10% per year. ANRE has published a draft new tariff methodology for the storage of natural gas underground, which is a regulated activity. The new methodology establishes that companies in the field have the right to charge three different tariffs from gas operators with storage obligations. More importantly, ANRE, through the methodology for calculating tariffs, provides the warehouses with a regulated rate of profit of 10% per year.

Source: Economica