RO coal and power complex CEO says CO2 certificates account for 60% of their production cost

Oltenia Energy Complex (CE Oltenia, or CEO) announced that, on April 20, it completed the purchase of all the CO2 certificates that it had to buy on account of last year's electricity production, Economica.net reported.

It did not say the total amount paid but showed that it contributed EUR 188 mln from its own funds.

The CO2 certificates account for 60% of the total expenditures, the company commented.

Last month, the company received more than EUR 0.5 bln from the government for this purpose.

The price of CO2 certificates has increased dramatically in recent years, rising from EUR 4-5 in 2017 to over EUR 90 in February 2022.

Oltenia Energy Complex has paid from its own funds, since the company's establishment in June 2012 and until now, over EUR 1 bln for the CO2 certificates. Until 2020, the company did not receive any financial support from the state.

(Photo courtesy of Greenpeace Romania)