German giant sets up new gas and electricity supplier in Romania

German energy group E.ON has set up a new company in Romania called E.ON Vanzari. It has asked for a license for electricity supply from the National Agency for Energy Regulation (ANRE), reports local Profit.ro. The company’s share capital amounts to RON 9 million (EUR 1.96 million). E.ON Romania recorded a net profit of over EUR 110.3 million last year, after losses of EUR 3.9 million in 2015. The supplier E.ON Energie boosted its net profit by 55% in 2016 to EUR 37.8 million. The turnover amounted to over EUR 1 billion. The energy and gas distributor Delgaz Grid, also owned by E.ON, reduced its net profit by 13% last year to EUR 49.4 million. The turnover dropped by 4.6% year-on-year to EUR 333 million. E.ON Energie is the leader of the local gas supply market for household customers, with a share of over 57%, according to ANRE's latest official data from October 2016. E.ON needs to pay RON 4 mln to the Romanian state editor@romania-insider.com