Romania: CE Oltenia, gross profit of 260 million lei at five months, after losses last year

Complexul Energetic Oltenia, one of the largest energy producers in the country, recorded in the first five months a gross profit of 260 million lei, from losses of 20 million lei in the same period last year, as a result of the increase in coal production with 20% and 25% in energy, the company announced on Monday.

Turnover rose in the first five months by about 30% over the same period last year, the company said in a statement

During this period, the Oltenia CE functioned with an average of eight energy groups, covering a share of up to 30% of the energy market and about 30% of the system services required at national level, local reports.

“Compared to the first five months of 2016, more coal was needed in the National Energy System in the similar period of 2017. Thus, at the CE Oltenia level, there was an increase in coal production by 20% and the amount of energy produced by 25%. At the same time, the implemented management decisions have led to a decrease in production costs of about 9% for a MWh and about 13% for a tonne of coal,” the energy producer reports.

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