Gala BURSA "Deceniul European din Centenarul României"
ENERGY MINISTRY WANTS TO UPDATE THE ENERGY STRATEGY, BY MID-OCTOBER
BURSA 05.09.2017

EMILIA OLESCU (translated by Cosmin Ghidoveanu)
 
mărește imaginea
     * State secretary Andrei Maioreanu: "The updating of the Strategy was necessary, because the existing draft was predominantly focused on the objectives expressed by the EU and less on the objectives of the Romanian energy system"
     *  Ion Lungu: "Each government devises a new strategy"
       The amendment of the Energy Strategy in one month is a bad joke, says Jack Cutișteanu, CEO of Petprod, reacting to the announcement made by the representatives of the Ministry of Energy, according to which the Romanian authorities intend to update the draft of the Energy Strategy of Romania for the 2017-2030 period by mid October.
     In this context, Jack Cutișteanu told us: "The truth is that what the people of the previous team did wasn't completed, and what the current governments want to do is unknown for now.
     The current strategy draft is very well written, but it doesn't deal with the issue of investments and where the funds for them will come from. Also, it doesn't specify what will happen in a few years, when coal plants reach their end of life.
     That is why, the strategy needs to be completed, but I don't know if the people in the government are capable of doing that. In Romania, every single time the minister of energy is replaced, the first thing that the new head of energy does is to say that the old strategy isn't good and that it needs to be replaced. More than that, the representatives of the Ministry have said that they intend for the new strategy to be ready in one month. But in one month they can barely make a copy of the current document and write a foreword. The rewriting of the energy strategy in one month is a bad joke".
     In the opinion of Ion Lungu, the president of the Association of Energy Suppliers in Romania (AFEER), on principle, any decision made concerning a strategy is a political one. The head of the AFEER told us: "I am convinced that the Energy Strategy will not be fundamentally changed, but the current government needs to change something in it, to put its own brand on it and to correlate it with the current government program. Each government makes up a new strategy". Mr. Lungu expects for further consultations to take place about the changes made to the Strategy, which means that it can be approved as soon as possible.
     The Ministry of Energy has set up a working group that is going to update the draft of the Energy Strategy, with the document set to include a list with the priority investments in the sector, such as reactors 3 and 4 of Cernavodă, the hydroelectric plant of Tarnița and a new group at the Oltenia Energy Complex, as stated by Andrei Maioreanu, state secretary in the Ministry of Energy, quoted by Agerpres.
     According to him, the working group includes the three state secretaries in the Ministry, as well as representatives of the ANRE, ANRM, Hidroelectrica, Nuclearelectrica, the two energy complexes, Transelectrica, the Romanian national Committee of the World Energy Council, as well as the Romanian Academy. The first meeting of the group took place on Thursday, August 31st.
     "The approval through parliamentary procedure means added value. Political parties, companies, unions, academia, will be consulted", Maioreanu said.
     According to him, the updating of the Strategy was necessary, because the existing draft has predominantly taken into account the objectives expressed at the level of the European Union and less of the objectives of the Romanian energy system: "The existing project does not reflect a desire for the development of the area, but it is focused on conserving and reducing the area of activity. That is why there is no list of new investments on a national level. The draft inaccurately, incompletely and incoherently presents some actual statuses, such as the state of the primary energy reserves, such as those of lignite or coal. More specifically, statuses have been included without a very clear analysis. Also, the draft does not show the current state of the production and transport system of all energy forms. Two very important objectives are missing that we are proposing: increasing Romania's energy contribution on the regional and European markets by tapping the national primary resources and assuring the access to electricity and thermal energy for all consumers. To that end, we are going to continue the electrification program and the work towards improving the profitability of the heating systems".
     According to the quoted source, the new strategy project will rely on the following objectives: energy security, improving energy efficiency, investments, environmental protection. We need to prioritize our investment goals and there will be a list of very important investment objectives. Also the strategy will take into account the investment programs of each individual company.
     Romania's energy strategy put up for consultation at the end of 2016 had five fundamental objectives: energy security, competitive energy markets, the basis of a competitive economy, clean energy and the sustainability of the energy sector, the modernizing of the energy governance system and the protection of vulnerable consumers and the reduction of energy poverty.
     The representative of the Ministry of Energy also said that Romania can fulfill its energy commitments to the European Union through its own energy mix. 
 

 
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Actualitate - vezi toate știrile mai jos.
Politică, 14:36
UPDATE
     * ACTUALIZARE 16:54 Parlamentarii PSD părăsesc sala
     Moțiunea de cenzură depusă de PNL este citită în acest moment, în plenul reunit al Parlamentului, iar parlamentarii PSD au început să părăsească sala.  detalii
Politică, 07:37
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     ------------
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PENTRU A DOUA OARĂ,
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English Section
16.11.2017
THE QUICK RISE OF THE INDEX WHICH SETS THE TREND FOR INTEREST RATES ON LOANS DENOMINATED IN LEI ISN'T STOPPING
     The 3-month ROBOR rate, which is used to calculate the interest rates, the majority of the loans denominated in lei, has jumped past the 2% psychological level, and yesterday reached 2.06%, up from Tuesday's 1.92%, according to data from the NBR.  details
16.11.2017
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     * Minister Toma Petcu, former ministers Răzvan Nicolescu and Victor Grigorescu, the representatives of the state in the executive structure of OMV Petrom and Mihai Busuioc, the president of the Court of Auditors were heard today in the Investigation Commission
       The executives of OMV Petrom mentioned, in a letter addressed to the parliament, the existence of four lawsuits brought by the National Energy Regulation Authority (ANRE) and of seven audits by the Authority, between 2012-2017, as the recent request for information by the Commission for the Investigation of the activity of the ANRE targeted a period of 12 years, from 2015 to 2017.  details
14.11.2017
THE EURO AT AN ALL-TIME HIGH
     * Vasilescu: "We cannot say that the currency market has gone off the rails, the exchange rate has moved 4 bani in 4 days"
     * "Perhaps it is a simple coincidence the fact that on November 8th was approved the Emergency Ordinance of the Fiscal Code and it was also on that day that the Euro rose past 4.6 lei", said Mr. Vasilescu
       The leu yesterday reached a historic low against the Euro, 4.6495 lei/Euro, up 1.05 over the previous meeting, marking the fourth day where the exchange rate was above 4.6 lei.  details
13.11.2017
     In October, the Romanian Commercial Bank, through Schoenherr și Asociații, has submitted, with the County Court of Bihor, a request for the insolvency of the European Drinks group, owned by the Micula brothers. That group includes: European Drinks, Transilvania General Import-Export, European Food, Starmill SRL, Scandic Distilleries SA, Rieni Drinks.  details
10.11.2017
DUMITRU COSTIN (BNS):
     * The executives of OMV Petrom, summoned to appear in the Parliament for the third time
     * Sevil Shhaideh and Radu-Spiridon Cojocaru, the representatives of the state on the Supervisory Board of OMV Petrom, also called in for hearings
     * Costin: "We have notified the Audit Body of the Prime-Minister"
       The management of OMV Petrom, namely Mrs. Mariana Gheorghe, as well as the representatives of the Romanian state on the Supervisory Board of OMV Petrom, Sevil Shhaideh and Radu-Spiridon Cojocaru will be invited to appear in the hearings on the Investigation Commission for the activity of the ANRE, the members of the Commission decided on Thursday.  details
09.11.2017
     * The fear that wages will drop is unjustified
       The government's proposal to transfer the social security contributions exclusively to the employee is not at all a social-democratic measure and not even one of redistribution, rather it is one of an ultra-liberal nature, which leaves the employer in the unique position in Europe of not contributing in no way whatsoever to the social security systems (retirement and unemployment) or healthcare.  details
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     * Adrian Simionescu: "Investors feel the price at which EL has acquired from the Proprietatea Fund its stakes is very high and unjustified"
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01.11.2017
PSD SENATOR EUGEN TEODOROVICI:
     * "The MADR made a «shopping list» of projects - with local level libraries and a ferry for crossing the Danube"
     * "Within three years at most, Romania can draw 3 billion Euros in European funds"
     * "Unfortunately, Romania promotes politicians instead of promoting specialists"
       Romania has embarrassed itself with the proposals that had been initially prepared for the Juncker plan, said Eugen Teodorovici. Mr. Teodorovici is the president of the Budget and Finance Commission of the Romanian Senate, member of the European Affairs Commission and former minister of European Funds.  details
01.11.2017
ADVERTISING
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30.10.2017
     Ludwik Sobolewski handed in his resignation.
     Wow!
     Friday, the Bucharest Stock Exchange (BVB) posted on its website the text of a "Current report":
     "The Bucharest Stock Exchange is announcing that on October 27th, 2017, Mr. Ludwik Sobolewski has notified the company about his resignation from the position of CEO of the company".  details
27.10.2017
RUMORS: THE NEW CEO OF THE BSE, SOUGHT IN THE BANKING INDUSTRY
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       Even though the management of the Bucharest Stock Exchange has not been officially announced, the result of the interviews for the position of CEO held on September 25th, it seems that already a new search has been launched, which focuses on the banking sector.  details
27.10.2017
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     * Gabriel Dumitrașcu: "I hope that by tomorrow (ed. note: today) at 10:00, the ASF will issue a statement, otherwise it means Mircea Ursache is reckless"
       The General Shareholder Meeting of Electrica set to take place today announces itself very interesting as, on the agenda, it includes the election of the members of the Board of Directors by applying the cumulative voting method, as well as approving the acquisition by Electrica of the stakes of the Proprietatea Fund (21% each) in the distribution subsidiaries of Muntenia Nord, Transilvania Nord, Transilvania Sud and Electrica Furnizare, for a price of 752,031,841 lei, a cost higher by 60 million for the company compared to the failed negotiation of March 2016.  details
23.10.2017
THE ANPC STARTS THE REVOLUTION ON THE BANKING MARKET
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