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Transelectrica aims to double export capacities

Electricity suppliers and producers in Romania might increase exports to Hungary and Austria, after Transelectrica started an investment programme that will prompt the doubling of local export capacities of electricity, daily Business Standard reports.

Romania's main goal in this project of connecting the electricity markets to Hungary and Austria is to export energy to the markets where the price is better the demand higher, to exist predictability and a higher confidence in the market, said Stelian Gal, general manager of Transelectrica.

According to the daily, Transelectrica will re-think the investment plan - 2 billion euros by 2020 - focusing on the south-eastern area, more exactly on Dobrogea where new production capacities were announced, for wind or nuclear energy or based on natural gas.

At the same time, the company aims to finance the achievement of the submarine cable between Romania and Turkey, aiming that in the shortest time to resume the process of selection of a company to draw up the feasibility survey of the project, because initially at the auction of December 10 no company showed up.

For next year, Transelectrica reports rising revenues by 2.4 percent, from 3.006 billion lei (some 819 million euros), a level forecast for this year to 3.08 billion lei (855 million euros).

The gross profits estimated for 2009 is higher by 5.2 percent, reaching 126.3 million lei (some 35 million euros), compared to the value forecast for 2008 worth 120 million lei (32.7 million euros).

According to a release of Transelectrica sent to the Bucharest Stock Exchange (BVB), shareholders passed on Monday the modification of the budget of revenues and spending for this year. Therefore, the budgeted revenues total 3.006 billion lei (some 819 million euros), up 3.33 percent compared to the initially approved value.

Transelectrica revised upward 33.3 percent budgeted gross profit of 90 million lei (some 24.5 million euros) to 120 million lie (some 32.7 million euros).

According to Stelian Gal, the company will not be affected by a prospective reduction of electricity consumption in Romania, because of the crisis, since it stakes on a rise of exports and of the electricity transit.

On Friday Transelectrica inaugurated the second interconnection with Hungary, on Arad-Nadab-Bekescsaba route, the first work of this type of the past 20 years. The investments amounted to 25.7 million euros, of which 14.6 million euros were supplied by EBRD and Raiffeisen Bank loans.

 

Sursa: http://www.rompress.ro

Tags: million euros transelectrica electricity capacities export bvb

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