Romanian coal-fired power plant CE Oltenia auctioned forward electricity contract with delivery in Q1 next year for RON 600 (EUR 120) per MWh, but the electricity subsidiaries of Enel utility group had to offer up to RON 830 (EUR 166) per MWh to make sure they win, Economica.net reported.

The “band” electricity blocks, namely contracts providing for the supply of constant power during the period (Q1), were eventually sold at prices between RON 815 and RON 821 per MWh.

For this price, CE Oltenia is safely on the profit side, Economica.net concludes quoting company’s officials announcing a production cost of RON 510 per MWh that includes a carbon price component calculated for CO2 certificate traded at EUR 60.

CE Oltenia general manager Daniel Burlan was recently speaking of the high prices (RON 700-1,000 per MWh) on the spot market - “three times more than the company gets [at that time] under the bilateral contracts.”

andrei@romania-insider.com

(Photo source: Facebook/Complexul Energetic Oltenia)