According to the company’s officials, the market will still be hostile because of the low demand and falling prices.
The energy producer will diversify through investments in solar farms and biomass stations.
“In 2014 we anticipate the following challenges for producers of energy from classical sources: a further decline in electricity prices, falling consumption of electricity, a rising weight of power from renewable sources,” says Laurentiu Ciurel, general manager of CE Oltenia.
Last year, the company’s energy production reached 12 TWh, with CE Oltenia’s share of total electricity production standing at 20%.
Amid a 4.5% decline in energy consumption, a good hydro year and a substantial rise in green energy production, thermal power producers coped with a challenging year in 2013.
Things will not change in 2014, either, and Ciurel says that one of the main tasks will be to slash production costs so that they may be covered from prices levied for electricity.
“In 2013, CE Oltenia generated around 12 TWh of energy and budgets around 15 TWh for 2014. For 2013, CE Oltenia estimates revenue of around 2.6 billion lei (EUR588.3 million). For 2014, the company expects revenue of around RON3.3 billion (EUR733 million),” says Ciurel.
For this year, the company’s investment budget amounts to RON1.5 billion (EUR333 million), with the sum to be largely aimed at retooling production capacities.
In 2014, CE Oltenia is set to diversify its energy production by investing in the area of renewable projects. Investments are mainly meant to cut the weight of carbon emission costs.
“There will be investments in photovoltaic parks and projects using biomass to the end of cutting the impact of carbon emission in operating costs,” said Ciurel, without specifying the amount of investments.
(English version by Catalina Apostoiu)