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7/30/2019 Romanian Energy Market
1/20
A Unique Perspective 2012 EnergyQuote JHA. All rights reserved
Romanian Energy Market
Anca MoruzEuropean Relationship Manager
7/30/2019 Romanian Energy Market
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2012 EnergyQuote JHA. All rights reserved
Agenda
1. European context
2. Power & Gas Markets
- Market size- Market opening- Market players- Future considerations
3. Opportunities
4. Q&A
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European Background
POWER
2012 EnergyQuote JHA. All rights reserved
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Market Size and Generation Mix
POWER
Population: 19 million;
Electricity consumption in 2011: 54 TWh;
Size of the B2B market in 2011: 63%.
2012 EnergyQuote JHA. All rights reserved
0
5
10
15
20
2530
35
40
45
50
Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12
Coal[%]
Gas[%]
Hydro[%]
Nuclear[%]
Wind[%]
Other[%]
40.4
12.2
24.6
19.5
2.21.1
Coal[%]Gas[%]Hydro[%]Nuclear[%]Wind
[%]Other[%]
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2012 EnergyQuote JHA. All rights reserved
Market Opening
POWER
On the 16th of July 2012 the newversion of the Electricity and Naturalgas Law has been published;
Transposing Directives 72/2009 and73/2009, the law includesprocedures for the extinction of theregulated tariffs;
In the power sector the process willstart on the 1st of September 2012and the transitory tariffs will be nolonger applied after 31st of December2013.
Source: ANRE - http://www.anre.ro/
http://www.anre.ro/http://www.anre.ro/http://www.anre.ro/7/30/2019 Romanian Energy Market
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2012 EnergyQuote JHA. All rights reserved
Market Players
POWER
ANRE the national Regulatory Authority in Romania - anindependent organization responsible for both electricity and gasmarkets
Transelectrica Romania's only TSO was created in 2000following the unbundling of CONEL - the former national electricitycompany.
DSOs 8 main distribution companies
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Supplier Landscape
POWER
During Q1-12, approximately 83players responsible for the powersupply were active on theRomanian energy market;
Of them, up to 40 are registeredon the wholesale market as well;
13.6%
8.4%
6.4%
5.9%
4.4%
4.0%
3.9%3.6%3.3%
2.8%
2.8%2.4%
2.0%
2.0%
1.9%
1.8%
1.6%
1.1%
0.7%
27.4%
Alro AlpiqElectrica Tinmar IndTransilvania Sud OMV PetromCE Craiova CEZ VanzareE.on Enegie Romania ENEL EnergieElectromagnetica Energy HoldingRenovatio Trading PetprodHidroelectrica Electrica FurnizareENEL Energie Muntenia EGL Gas&Power RomaniaRepower Furnizare Romania Others
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Price structure
POWER
The electricity price applicable onthe free market to industrialconsumers includes 5 components:
Energy only price;
Transport changes;
Distribution charges;
Green taxes;
Other taxes.
Note: The energy prices considered are in line with the current market level November 2012
48%
64%71%
6%
8%
9%37%
15%6%
9% 12% 14%
0% 1% 1%
0%
20%
40%
60%
80%
100%
Low Voltage Medium Voltage High Voltage
Energy Only Transport Distribution Green Taxes Taxes (accize)
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2012 EnergyQuote JHA. All rights reserved
Recent evolution
POWER
The graph below follows the DA price evolution since January 2011.
0
10
20
30
40
50
60
70
80
90
100
RO Power DA Prices[EUR/MWh]
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2012 EnergyQuote JHA. All rights reserved
Future considerations
POWER
OPCOM, along with ANRE and Transelectrica, are currently under negotiations with similar parties fromthe Czech Republic, Slovakia and Hungary for a possible integration of the two markets OPCOM andPXE.
By the end of 2013, the transitory regulated tariffs for power currently applied to industrial consumersshould be extinct.
Nuclearelectrica S.A. (20% of the power production in Romania), is planning to extend their facilities;investors have been invited to participate to the development of 2 additional reactors (besides the 2active ones).
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2012 EnergyQuote JHA. All rights reserved
Case Study Owens Corning Romania
POWER
Company: Owens Corning
Service Provided: Procurement, Energy Management and Reporting
The challenge: Their Romanian plant relied on a power supply agreement negotiated in 2009
which had been automatically renewed in various occasions.
The solution: Our analysts have negotiated a new fixed price agreement.
The result:- Highly competitive price- Extended payment terms
- Cash-flow improvement- No volume tolerance band imposed;
Further improvements
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European Background
NATURAL GAS
2012 EnergyQuote JHA. All rights reserved
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Market Size & Sources
NATURAL GAS
Natural Gas consumption in 2011: 150,810 TWh;
Size of the B2B market in 2011: 79%.
2012 EnergyQuote JHA. All rights reserved
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2012 EnergyQuote JHA. All rights reserved
Market Players
NATURAL GAS
ANRE Market regulator
Transgaz TSO
8 major gas producers (95% of production owned byRomgaz and OMV Petrom)
DSOs 40 distribution companies (2 major onesDistrigaz Sud Retele and E.on Gaz Distributie)
40 active Suppliers
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2012 EnergyQuote JHA. All rights reserved
Price structure
NATURAL GAS
Published by ANRE on a monthly basis;
2 types of mix (Romanian Gas/Imports): Domestic consumers (typically 92% domestic, 8% imports); Industrial consumers;
0%
10%
20%
30%
40%50%
60%
70%
80%
90%
100%
Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12
Mix structure - Industrial consumers
Domestic Imports
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Product availability Industrialconsumers
NATURAL GAS
Regulated Tariff:
- includes all regulated components, except for taxes (accize);- published by ANRE and can be revised on a quarterly basis;
- 11 categories of consumers depending on the annual consumption and connection type;
Liberalized Tariff:
- includes the natural gas price calculated according to the mix established for each month;- influenced by exchange rate Lei/$;- transport and Distribution tariffs are added depending on the supply point address;
- supplier margin;
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Future considerations
NATURAL GAS
The new Electricity and Natural Gas law published by ANRE in Jun-12 has established a calendar for agradual elimination of the regulated tariffs;
Forindustrial consumers, the process will start on the 1st of December 2012 and should be complete bythe end of 2014 (2015 at the latest); After having negotiated a contract on the free market, clients can nolonger return to the regulated tariffs;
Shale Gas: Chevron has won the right to explore various regions close to the Black Sea (decision taken by the
Romanian Government in March 2012); Resources might be also found in the Carpathian Mountains;
Nabucco Project Bulgaria has announced that the pipeline construction will begin in early 2013.
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Thank you
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2012 EnergyQuote JHA. All rights reserved
Questions and Answers
For additional information please contact
Anca Moruz
European Relationship Manager