Private power supplier Repower Furnizare Romania, the local division of Swiss-held Repower group, is a EUR115 million business. On the local market, Repower’s most important customers are Mega Image, Nestlé, British American Tobacco and Athénée Palace Hilton, according to available data.
The decision to forgo the Romanian operations comes into the context in which profit margins generated by energy supply fell significantly along with the fiercer competition in this sector. The decrease in power consumption and prices offered consumers the opportunity to prevail in negotiations, which subsequently shrank traders’ large profits.
According to Finance Ministry data, Repower Furnizare Romania registered a turnover of EUR115 million in 2015, higher than EUR103 million in 2014, but posted a loss of EUR3 million.
Repower entered the Romanian market in 2007. In 2010, it bought electricity producer Elcomex EN, part of the group of companies owned by businessman Ion Grecu, in a EUR17 million deal.