CE Oltenia suspending 13,000 workers as sales drop amid COVID-19
The government in Bucharest is paying employees on a leave of absence 75% of gross salary for the duration of the state of emergency. CE Oltenia, already strained by carbon emissions costs, introduced a minimum staffing scheme and sent the first of two groups of workers home for 17 workdays. Romania must introduce measures to […]
UPDATE: Albania suspends tendering for setting up power exchange
Albania’s Ministry of Infrastructure and Energy has decided to suspend tendering for companies and financial institutions interested in becoming shareholders of a joint-stock company which would operate the Albanian power exchange (APEX). In March, the ministry published an invitation to bid, with an April 27 deadline to submit applications. The tendering commission suspends the submission of […]
EPCG’s net profit plunges 35.7% in 2019
Montenegrin state power utility Elektroprivreda Crne Gore’s (EPCG) net profit in 2019 dropped 35.7% against 2018, to EUR 28.3 million, according to EPCG’s annual report. In 2018 the company posted a net profit of EUR 44.1 million. Operating revenues stood at EUR 323 million in 2019, an increase of EUR 20 million compared to 2018, […]
Romania temporarily prohibits sale of majority stakes in energy companies
Romania will maintain the state of emergency for at least one more month and until it is abolished, no energy firm can be taken over. Hidroelectrica will thus need to wait longer for its acquisition of ČEZ’s subsidiaries in the country. The state of emergency has been extended for a month, to May 14. Just before […]
Electricity prices to dive 30% in the region – analyst
Electricity prices in the region could fall 30%, said Nickolay Kiskinov, managing partner at Bulgaria-based Vladimirov Kiskinov Attorneys-at-law. The current electricity prices at the power exchange in Bulgaria are mostly similar to those in the European western markets where, after the initial collapse, prospects are beginning to change due to expectations of economic recovery, he said […]
Renewable energy prices rebounded 10% after collapse in March
Renewable energy prices across Europe have recovered after a 15-30% fall in March and rebounded 10% in April. Prices took a substantial hit at the beginning of March, falling between 15-30% across key markets compared to average prices in February, but have largely recovered from March lows, said Pexapark, the provider of advisory services for clean […]
Megajoule Adria to conduct wind resource assessment for Poklečani wind farm
Power utility Elektroprivreda Hrvatske Zajednice Herceg Bosne (EPHZHB) has selected Zagreb-based Megajoule Adria to prepare a study on a wind resource assessment for the Poklečani wind farm. According to the EPHZHB, Megajoule Adria has offered to conduct a wind resource assessment for BAM 12,500 (about EUR 6,400). A public invitation to prepare the study was launched […]
TENDERING: Mesihovina wind farm maintenance
Public power utility Elektroprivreda Hrvatske Zajednice Herceg Bosne (EPHZHB) has launched a tender for the maintenance of the Mesihovina wind farm, the first such facility in Bosnia and Herzegovina. The deadline for the submission of bids is May 27, according to the public procurement notice. The municipality of Tomislavgrad is defined as the destination for […]