* "We are preparing an investment program worth $ 5.56 billion,
Hidroelectrica achieved during the first nine months of the year gross gross profits of about 1.98 billion inches, an increase of about 23% compared to the gross profit gained for the entire 2017 financial year, while operating income for the first nine months amounted to $ 3.2 billion, nearly $ 3.286 billion gained in 2017, Bogdan Badea, chairman of the Hidroelectrica Division, yesterday said in a conference.
He said: "In nine months, Hidroelectrica's production is 14.19 TWh, which means we have exceeded last year's production of 14.04 TWh." With regard to data, In brief, operating income was in the first nine months somewhere at 3.2 billion vs. 3.286 for the whole of 2017. Now we have a gross profit of 1.98 billion last year, exceeding 1.6 billion. dollars. Probably what we proposed earlier this year, ie to surpass the 2 billion profits, we will succeed despite the grim weather forecasts we have for the end of this year, and on this occasion we prove that Hidroelectrica has not yet reached its potential, regardless of climatic condition ".
In recent years, Hidroelectrica distributes 90% of its profits to its shareholders. The Ministry of Energy is the majority shareholder of the company, with a stake of 80%.
At the same time, Mr Badea announced that the electricity producer had completed his business plan for the next five years, worth $ 5.56 billion,
"We have done a lengthy analysis of the volume of investments we have proposed. We are talking about $ 5.56 billion, the volume of investment for the next five years, including new investments, refurbishment / upgrading, maintenance capitalization and share acquisition, Hidroelectrica's portfolio expansion and diversification of the sources we use, "he said. the representative of Hidroelectrica.
With regard to the new production capacities of the program, Mr Badea has shown that about 590 MWh will be built, of which 240-250 MWh will be hydroelectric investments, while the difference will be provided by other renewable sources.
The Hidroelectrica official said: "We fight daily with excessive bureaucracy at the level of the authorities, whatever means approval or authorization. Last year, we completed the Bretea power plant (…) This month we will complete two modernizations. The general upgrading / rebuilding program went better because we needed far fewer views than the state authorities … If we do not solve bureaucracy, the proposed and the energy strategy will be fine words on paper. "
With regard to this year's rise in electricity prices, Mr Badea said: "This is also linked to what happened at COP 21 (the UN Climate Conference in 2015 in Paris) to increase energy not only in Romania to avoid speculation but across Europe In practice, pressure on carbon certification has translated into rising prices across Europe … It would be interesting if we had an idea of how those who sell energy to the final customer What happened in some situations with a with some energy merchants who, although having a significant portfolio of clients on the back, did not have any party or very small percentage in relation to the amount of energy contracted. These are the overall market behaviors wrong to be punished. "
Regarding the effect of this increase in electricity prices on Hidroelectrica's plans and revenues, Hidroelectrica said: "At this time, the market helps us and the higher electricity price means that all manufacturing companies are rethinking their investment plan there is a favorable conjuncture to be exploited. Always a larger volume of investment is made at a higher price, but in the long run, as we have seen in other countries, translates into a fall in prices over a period of 10, 12, we have to understand, we can not have low prices on the infinite and large volume of investment. "