CEZ Romania officials said the decline was caused by sudden changes to Romania’s support scheme for renewable energy producers, prompting CE Romania to reassess its wind farm assets, which ultimately led to a loss of RON743.76 million.
The amount of electricity supplied to end consumers reached 6,316 gigawatt hours (GWh), which translates into a slight year-on-year decrease due to a decline in electricity consumption, mainly on the segment of non-household consumers.
End-2014, CEZ group registered in Romania earnings before interest, tax, depreciation and amortization (EBITDA) of RON478.97 million, lower by RON452.19 million from 2013.
The EBITDA resulted from distribution and supply operations rose by RON82.38 million against last year, mainly due to collecting receivables from Romania’s railroad company CFR and postal operator Posta Romana.
Investment costs for the entire group reached RON223.65 million. Investments mainly targeted thee modernization of the power distribution network and the bulk of investments in energy production were completed in 2013.