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"Romania Power Report Q4 2013" Is Now Available at Fast Market Research

Recently published research from Business Monitor International, "Romania Power Report Q4 2013", is now available at Fast Market Research


Boston, MA -- (SBWIRE) -- 10/24/2013 -- The Romanian government is attempting to revive its privatisation plans, which have stalled since the electricity market was officially liberalised in 2007. Although the government has emerged from a period of significant political instability at the end of 2012, and remains committed to its plans to sell off its state hydro and nuclear power companies, further delays are likely in the short term. The government is also seeking to hike electricity prices and establish a capacity expansion programme capable of meeting long-term demand growth. While plans to expand nuclear power generation are in disarray, there is growing momentum behind the country's wind and solar power programmes. However, with the government now set to suspend its incentive scheme, due to the fact that costs have been passed onto the low-earning domestic population, there is the threat that renewables investment may now be directed elsewhere.

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Key trends and developments in the Romanian electricity market:

- During the 2013-2022 period, Romania's overall power generation is expected to increase by 2.6% per annum, to 75.6 terawatt hours (TWh). Driving this growth is an annual 8.4% rise in nuclear generation and a 20.5% average increase in non-hydro renewables-based supply, offsetting a 0.6% average annual decline in oil-fired electricity.BMI forecasts average annual GDP growth of 3.5% between 2012 and 2022. The population is expected to fall slightly from 21.4mn in 2012 to 20.9 in 2022, with net power consumption forecast to increase from an estimated 50.3TWh in 2012 to 61.5TWh by 2022.In July 2013, Hidroelectrica reportedly managed to exit from insolvency after having laid off 700 employees and annulled direct contracts through which it had lost over EUR1bn. The company registered a turnover of RON399mn in the first five months of 2013, compared to losses of RON190mn in the same period of 2012. With the company finally emerging from insolvency procedures, the government is now expected to press ahead with its plans to sell off significant stakes in the company to private investors, along with Romgaz and Energy Company Oltenia. However, according to Prime Minister Victor Ponta, the planned listing of nuclear power company Nuclearelectrica on the Bucharest Stock Exchange may be delayed, owing to the current 'state of play on the European nuclear energy market'.
- Despite huge growth in Romania's renewables capacity, we have previously highlighted that regulatory uncertainty and a possible retrenchment with regards to generous renewable incentives were major threats to the future development of the sector. This view is starting to play out and could put an end to the surge in investment that has boosted Romania's green energy credentials since 2011.

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