Romanian coal and power group CE Oltenia seeks state aid for CO2 certificates

Romanian coal and power group CE Oltenia drafted the documents for a state aid scheme aimed at helping the company pay for the CO2 certificates and will send them to the European Commission, CE Oltenia CEO Sorin Boza announced in a press conference on September 12, local Agerpres reported. He mentioned the company also considers contracting a loan for this.

The company has to pay RON 1.60 billion (EUR 340 million) this year in the account of the CO2 certificates calculated based on the coal burned in its power units, compared to RON 1.45 bln paid last year. This year, the cost of CO2 certificates represents 51% of the company’s turnover, Boza explained.

The money paid each year would have been enough to build a gas-fired unit involving less CO2 emission therefore smaller expenditures related to the CO2 certificates. In fact, the company’s CEO mentioned that CE Oltenia considers green energy alternatives as well as gas-fired power units, in order to diminish the emissions and the related expenditures.

(Photo source: Facebook/Complexul Energetic Oltenia)