In the first three months of 2013, the group’s EBITDA in Romania was CZK1.8 billion.
The first-quarter results were negatively affected by postponements and suspension in green certificates assignments for its wind farms in Fantanele and Cogealac, southeast Romania, CEZ said in its financial report.
It said the results were also impacted by a lower market price of green certificates and by declining production.
CEZ’s two wind farms produced 322GWh of electricity in the first quarter, down 21% on the year. Including hydropower production, CEZ generated 342 GWh of electricity on the local market in January-March, down 16% year-on-year.
By segment, CEZ reported EBITDA from production and trading of CZK200 million in Romania in the first three months, down 84% from CZK1.4 billion in the year-ago period.
On the other hand, the group’s distribution and sale EBITDA on the local market rose 75% year-on-year to CZK600 million, fueled by one-time earnings related to payment of debts by Romanian state railways.
CEZ runs several companies in Romania, namely CEZ Romania SA, CEZ Vânzare SA, CEZ Trade SRL, MW Team Invest, Ovidiu Development, TMK Hydroenergy Power and Tomis Team.
Group-wide, CEZ reported EBITDA of CZK21.2 billion in the first quarter, down 25% on the year.