Romania, EC Oltenia buys CO2 certificates last year, SEE Energy News
The Oltenia energy complex states that it has completed the purchase of all the necessary CO2 certificates to cover the 2021 production. The company did not announce how much money it set aside for the purchase, but states that it contributed 188 million euros from its own funds. Last month, she received more than half a billion euros from the government in Bucharest for this purpose.
According to a post on the Facebook page, EC Oltenia bought certificates on the basis of electricity production last year on April 20. The company adds that the price of permits has increased dramatically in the last few years, from 4 to 5 euros in 2017 to over 90 euros in February 2022.
The company set aside more than 188 million euros from its own funds for the procurement of certificates for 2021.
The share of CO2 expenditures in the total costs of electricity production exceeds 60%.
According to the current legal provisions, CO2 permits for 2021 must be obtained by April 30 this year. Otherwise, the fine would be 100 euros per certificate.
Since its establishment in June 2012, EC Oltenia has paid over one billion euros for CO2 certificates from its own funds. The company reminds that until 2020, it did not receive financial support from the state.
However, in March this year, the government approved an emergency decree allocating 535m euros to EC Oltenia for the payment of emission certificates.
This support will be financed from the state budget through the Ministry of Energy and / or from the revenues from privatization, it is stated in the normative act.
EK Oltenia is one of the largest producers of electricity in Romania, with an installed capacity of about 3,000 MW, divided into four thermal power plants – TE Rovinari, Turceni, Isalnita and Craiova 2, which work on lignite produced in surface mines in Oltenia.
The company currently produces with a capacity of 1,200 to 1,500 MW, and according to government plans, it could add another 300 MW in the context of the energy crisis.