* "We are preparing an investment program worth 5.56 billion lei"
In the first nine months of the year, Hidroelectrica generated a gross profit of approximately 1.98 billion lei, an increase of approximately 23% compared to the gross profit generated for the entire 2017 financial year, with operating income for the first nine months of 3, 2 billion lei, close to 3.286 billion lei obtained in 2017, said yesterday Bogdan Badea, chairman of Hidroelectrica, at the conference.
He said: "Within nine months, Hidroelectrica's production is 14.19 TWh, which means we have exceeded last year's production of 14.04 TWh." In terms of numbers, each record year In short, operating income was 3.2 billion in the first nine months compared to 3.286 in 2017. We currently have a gross profit of 1.98 billion. Last year we exceeded 1.6 billion lei, probably what we proposed earlier this year, namely over 2 billion profit, we will succeed despite the gloomy weather forecasts we have at the end. this year and on this occasion we show that Hidroelectrica has not yet reached its potential, regardless of the climatic situation. "
In recent years, Hidroelectrica sells 90% of profits to its shareholders. The Ministry of Energy is the majority shareholder of the company and its share is 80%.
At the same time, Mr Badea announced that the electricity producer had completed his business plan for the next five years, amounting to 5.56 billion lei.
"We have made a long analysis of what volume of investment we have proposed, we are talking about 5.56 billion lei, the size of investments over the next five years, including new investments, modernization, maintenance, capitalizing and acquiring shares, expanding Hidroelectrica portfolio and diversifying the types of sources, which we use "- said Hidroelectrica representative.
Regarding the new production capacity in this program, Mr Badea has shown that about 590 MWh will be built, of which 240-250 MWh will be hydro-energy investments, and the difference will come from other renewable sources.
Hidroelectrica official said: "Every day we fight with excessive bureaucracy at the level of authorities, all this means support or authorization. Last year we completed the Bretea power plant (…) We will complete two upgrades this month, The general improvement program has gone better because we needed a lot fewer opinions from state authorities … If we do not solve the bureaucracy, I plan to propose a business plan, and the energy strategy will be only a few words on paper. "
With regard to this year's increase in electricity prices, Badea said: "This is also related to what happened at COP 21 (United Nations Conference on Climate Change in Paris in 2015). This is the main reason why prices to increase energy, not only in Romania, to avoid speculation, but across Europe, Virtually the pressure on carbon dioxide certification has translated into price increases all over Europe. … It would be interesting if we knew how those who They sell energy to the end customer, they do hedging. What happened in certain situations with termination of contracts with some energy traders who, although they had a significant backlog of customers, did not have any contract or a very small percentage in relation to the amount of energy adopted in the contracts, total market behavior should not be sanctioned. "
Regarding the impact of this increase in electricity prices on the company's plans and revenues, Hidroelectrica said: "At that time, the market helps us, and the higher price of electricity means that all production companies rethink their investment plan that there is a favorable economic situation that must be used Always a bigger investment is made at a higher price, but in the long run, as we saw in other countries, it translated into a drop in prices over 10 years, 12, 13. There are cycles that we must understand, we can not have low prices at infinity and large investment outlays. "