CEZ Romania reports steady revenues, EUR 370mn in 2009.

By bne IntelliNews March 1, 2010
The revenues of CEZ Romania, which operates one regional electricity distribution firm CEZ Oltenia, inched down by a mere 0.5% y/y to EUR 370mn in spite of the overall 8.3% y/y drop in the country-wide electricity use according to a press release of the parent company CEZ quoted by local media. However, CEZ Oltenia mostly delivers electricity to residential consumers and small industrial consumers while the large industrial companies such as aluminium producer Alro and petrochemical plant Oltchim, which saw the steepest drop in operations, rely on bilateral contracts with power providers on the free market. As opposed to the 12.4% y/y drop in industrial use of electricity, the residential sector increased the use of electricity by 6.5% y/y.

Separately, CEZ confirmed its commitment in large renewable projects explaining that the EUR 610mn investment in the wind farm in Fantanele will be ready this year in May. Out of the total 139 turbines, 39 were already installed. The whole wind power project in Dobrogea ( Eastern Romania ) with an installed capacity of 252.5MW will be operational next year.

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