REPORT ON RESULTS OF MONITORING THE ROMANIAN ELECTRICITY MARKET DECEMBER 2012

Transcription

1 R O M A N I A N E N E R G Y R E G U LA T O R Y A U T H O R I T Y GENERAL DIRECTION OF ELECTRICITY MARKET ANRE REPORT ON RESULTS OF MONITORING THE ROMANIAN ELECTRICITY MARKET DECEMBER This document represents an unauthorised translation of the Romanian document - ANRE makes all the necessary efforts to present within the here above mentioned document, as accurately and concisely as possible, the data based on the legal entities reports. This document published by ANRE is for information purpose only. ANRE is not and will not be under any circumstances legal responsible for any inadvertences regarding the information presented within the document or for the improper way the information is used

2 TABLE OF CONTENTS I. MAIN EVENTS IN THE DEVELOPMENT OF THE ROMANIAN ELECTRICITY MARKET... 3 II. WHOLESALE ELECTRICITY MARKET Structure of the wholesale electricity market Participants on the wholesale electricity market Generation structure of National Energy System on resources types Transactions structure on the wholesale electricity market Trading structure on the wholesale electricity market of different participant categories Concentration indicators on the wholesale electricity market and its components Price evolution on wholesale electricity market III. RETAIL ELECTRICITY MARKET Structure of the retail electricity market Steps in the opening process of the electricity market Electricity market opening degree Market shares of the electricity suppliers Concentration indicators of the competitive retail electricity market Evolution of consumers number and of electricity delivered Average selling prices of consumers supplied on the competitive market IV. TRANSMISSION AND SYSTEM OPERATOR C.N. TRANSELECTRICA S.A V. DISCLOSURE OF THE ELECTRICITY SUPPLIED IN VI. EVOLUTION OF MARKET RULES IN DECEMBER VII. EXPLANATIONS AND ABBREVIATION

3 I. MAIN EVENTS IN THE DEVELOPMENT OF THE ROMANIAN ELECTRICITY MARKET GD 365/1998 vertically integrated monopol RENEL was split into separated distribution and supply companies (SC Electrica SA) and generation companies (SC Termoelectrica SA and SC Hidroelectrica SA) were established within a new company - CONEL SA. Two other electricity generators (SN Nuclearelectrica SA and RAAN) were separately established; transmission, system services and market administration were separately organised, within CONEL SA; the relationships between parties within the electricity sector were settled based on contracts; GD 122/2 electricity market opens at 1%; GD 627/2 CONEL holding is disolved; September 2 launch of the compulsory electricity spot market in Romania, administrated by OPCOM and organized based on pool model; GD 1342/21 SC Electrica SA splits in 8 subsidiaries for electricity distribution and supply; GD 1524/22 SC Termoelectrica SA reorganizes in several separate legal entities for generation; July 25 launch of the new market model, based on: voluntary spot market, with both sides offers and bilateral settlement; compulsory balancing market, with TSO as single counterparty; financial responsibilities of the balancing are allocated to the BRP; GD 644/25 electricity market opens at 83.5%; December 25 launch of the green certificates market; December 25 launch of the centralized market for bilateral contracts; March 27 launch of the centralized market for partially standardized bilateral contracts with continuous negociation; GD 638/27 fully opening of electricity and gas markets; July 27 rules for capacity market have been established. July 28 launch of the mechanism of direct debit and guarantee for electricity transactions on the day-ahead market (OPCOM as central counterparty). August 28 process of legal unbundling of distribution and supply companies has been concluded; August/December 21 launch of bilateral coordinated auctions for capacity allocation on interconections with Hungary and Bulgaria; July launch of the intraday market; - GD 93/21 SC Electrica Furnizare SA had been established through merger of the former incumbent suppliers Electrica Furnizare Muntenia Nord, Electrica Furnizare Transilvania Nord and Electrica Furnizare Transilvania Sud; June 212 a new entity obtaines the generation license and enters on the electricity market - Complexul Energetic Oltenia SA, established in a dual system through merger of the former SNLO Tg. Jiu, Complexul Energetic Turceni, Complexul Energetic Rovinari and Complexul Energetic Craiova (GD 124/211); July 212 the Law of electricity and natural gas no. 123/212 has enter into force; September 212 the application of the first stage from the timetable of phasing out of regulated electricity tariffs to final consumers who choose not to exercise their eligibility rights, in accordance with the obligations assumed by the Romanian Government in relation with the IMF, World Bank and European Commission; October 212 the Law of organisation and operation of the Romanian Energy Regulatory Authority no. 16/212 has enter into force; November a new entity obtaines the generation license and enters on the electricity market - Complexul Energetic Hunedoara SA, established through merger of the former Electrocentrale Deva and Electrocentrale Paroseni (GD 123/211); December 212 launch of the organised electricity market for the large final consumers. 3

4 II. WHOLESALE ELECTRICITY MARKET 1. Structure of the wholesale electricity market 2. Participants on the wholesale electricity market The market participants* acting on the electricity market in December 212 are presented below split into categories: No. Name A Electricity generators operating dispatching 1 SC CET Bacău SA 2 SC CET Govora SA 3 SC CET Oradea SA 4 SC Cernavoda Power SRL 5 SC Dalkia Termo Iaşi SRL 6 SC Dalkia Termo Prahova SRL 7 SC EDP Renewables România SRL 8 SC Electrocentrale Bucureşti SA 9 SC Electrocentrale Galaţi SA 1 SC Enel Green SRL 11 SC Romconstruct Top SRL 12 SC Termica SA Suceava 13 SC Termoelectrica SA 14 SC Tomis Team SRL Electricity generators operating dispatching A1 units and acting also as suppliers on the 15 RAAN 16 SN Nuclearelectrica SA 17 SC OMV Petrom SA 2 SC CE Hunedoara SA 18 SC CE Oltenia SA 19 SC CET Arad SA 21 SC Hidroelectrica SA 22 SC Lukoil Energy & Gaz Romania SRL 23 SC OMV Petrom Power Park SRL B Transmission System Operator 1 CN TRANSELECTRICA SA DAM, Bilateral Contracts Market, Green C Certificates Market Operator 1 SC OPCOM SA D Distribution network operators 1 SC CEZ Distributie SA 2 SC ENEL Distributie Banat SA 3 SC ENEL Distributie Dobrogea SA 4 SC E.ON Moldova Distributie SA 5 SC ENEL Distributie Muntenia SA 6 SC FDEE Electrica Distributie Muntenia Nord SA 7 SC FDEE Electrica Distributie Transilvania Sud SA 8 SC FDEE Electrica Distributie Transilvania Nord SA E Incumbent suppliers 1 SC CEZ Vanzare SA 2 SC ENEL Energie SA 3 SC E.ON Energie Romania SA 4 SC ENEL Energie Muntenia SA 5 SC Electrica Furnizare SA No. Name F Electricity Suppliers acting exclusively on the wholesale market 1 SC Adederro G.P. Energy SRL 2 Alpiq Energy SE 3 CEZ as 4 SC CEZ Trade Romania SRL 5 SC Dalkia Romania SRL 6 Danske Commoditiesa/s Aarhus 7 E&T ENERGIE Handelsgesellschaft 8 SC Edison Trading SpA 9 SC Electrica SA 1 SC Enel Trade Romania SRL 11 Energy Financing Team Switzerland 12 SC Energy Market Consulting SRL 13 SC Energy Network SRL 14 SC Energon Power&Gaz SRL 15 SC Entrex Services SRL 16 E.ON Energy Trading SE 17 SC Ezpada SRL 18 Ezpada SRO 19 Freepoint Commodities Europe Ltd 2 Gazprom Marketing & Trading 21 GEN-I trgovanje in prodaja elektricne energije 22 GEN-I Bukarest Electricity Trading and Sales 23 SC Getica 98 COM SRL 24 SC Grivco SA 25 SC Iberdola Romania SRL 26 SC KBS Threenergyes SRL 27 SC Lord Energy SRL 28 SC Midest Energy SRL 29 SC MVM Partner Bucharest SRL 3 OMV Trading GmbH 31 RWE Supply Trading GmbH 32 Repower Trading Ceska Republica 33 SC Romelectro SA 34 SC Rudnap SRL 35 Statkraft Markets GmbH 36 SC Statkraft Romania SRL 37 SC Verbund Trading România SRL No. Name G Electricity Suppliers 1 SC Alpiq RomEnergie SRL 2 SC Alpiq RomIndustries SRL 3 SC Alro SA 4 SC Arcelormittal Galati SA 5 SC Arelco Power SRL 6 SC Biol Energy SRL 7 SC EFE Energy SRL 8 SC EGL Gas & Power Romania SA 9 SC Electricom SA 1 SC Electromagnetica SA 11 SC Energotrans SRL 12 SC Energy Distribution Services SRL 13 SC Energy Financing Team Romania SRL 14 SC Energy Holding SRL 15 SC Enex SRL 16 SC Ennet Grup SRL 17 SC Enol Grup SA 18 SC Fidelis Energy SRL 19 SC Gaz Sud Furnizare SRL 2 SC GDF SUEZ Energy Romania SA 21 SC General Com Invest SRL 22 SC ICCO Energ SRL 23 ILIOTOMI Impex GRPA 24 SC ICPE Electrocond Technologies SA 25 SC Luxten LC SA 26 Magyar Aramszolgaltato KFT 27 SC Monsson Energy Trading SRL 28 OET Obedineni Energini Targovtsi 29 SC Renovation Trading SRL 3 SC Repower Furnizare Romania SRL 31 SC Romenergy Industry SRL 32 SC TEN Transilvania Energie SRL 33 SC Tinmar Ind SA 34 SC Transformer Supply SRL 35 SC Transenergo Com SA *) The electricity market participants report to ANRE technical/commercial data according to the Methodology of wholesale electricity market monitoring for assessing the competition level on market and preventing the abuse of dominant position, approved by ANRE Order no. 35/26. The table does not include the Balancing Responsible Parties (BRP). The BRP updated list is published on the Balancing Market Operator website - 4

5 3. Generation structure of National Energy System on resources types Electricity structure by primary sources (delivered by generators with dispatchable units) - December nuclear 2.% wind 3.% solid 39.8% hydro 18.% gas 18.8% liquid.4% Source: Monthly reports of generators processed by MG Electricity structure by primary sources (delivered by generators with dispatchable units) nuclear 2.2% wind 3.5% solid 39.7% hydro 22.8% gas 12.8% liquid.9% Source: Monthly reports of generators processed by MG 5

6 The electricity generated from hydro resources and the energy stored in the main water reservoirs is directly correlated. The following graph presents the evolution of daily amounts of energy storage during 212 compared to the values of the last 5 years and compared to minimum, maximum and median values from Yearly evolution of daily values of energy stored in the main water reservoirs GWh Energy storage 28 [GWh] Energy storage 27 [GWh] Energy storage 29 [GWh] Min val 2-26 [GWh] Max val 2-26 [GWh] Median val 2-26 [GWh] Energy storage 21 [GWh] Energy storage 211 [GWh] Energy storage 212 [GWh] Source: Monthly reports of S.C. Hidroelectrica S.A. processed by MG The evolution of delivered electricity structure, during the last 3 years, is the following: 6. Evolution of electricity delivered by generators with dispatchable units by primary sources wind hydro gas liquid solid nuclear Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec GWh Source: Monthly reports of generators processed by MG 6

7 The following table presents the main data regarding the physical balance of electricity for December 212 and the entire year 212, compared to data for similar period of 211: No. INDICATOR MU December 211 December 212 % =4/3* =4/3*1 1 Generated electricity TWh Delivered electricity TWh Import TWh Export TWh Internal consumption TWh Consumption of household consumers on the regulated market TWh Consumption of non-households 7 consumption TWh on the regulated market TWh on the competitive market TWh Transmission Injection TWh component Transmission Extraction TWh component Actual transmission grid losses TWh Heat generated for delivery Tcal Heat in co-generation Tcal Note: 1. Data shown in the table neither include the energy produced by the generators who do not own dispatchable units (positions 1 & 2) nor the energy delivered to the consumers directly connected to the power plants (positions 6 & 7). 2. The imported/exported quantities do not comprise transits and cross border exchange of CN Transelectrica SA with neighbor countries in order to ensuring the balance of the national energy system. 3. The electricity considered for transmission tariff injection component do not comprise the electricity sold by generators for covering the transmission losses. 4. The transmission tariff extraction component and the system service tariff are applied for the same quantity of electricity % 4. Transactions structure on the wholesale electricity market The size of wholesale market depends on the sum of all transactions performed by the market players, exceeding the quantities physically transmitted from generation to consumption; the total transactions include also resale transactions made in order to match the contractual obligations and to obtain financial benefit. Therefore, the wholesale electricity market includes: regulated contracts and bilateral negotiated contracts between generators and suppliers, regulated contracts for covering the network losses, bilateral negotiated contracts between generators and between suppliers, as well as contracts concluded on centralized markets: CMBC (centralized market of bilateral contracts), CMBC-CN (centralized market of partially stardardised bilateral contracts, with continuous negotiation) and on the Power floor of RCE (Romanian Commodities Exchange), transactions on DAM (day-ahead market), on BM (Balancing Market) and Intraday Market (recently introduced). When entering into force, the new Law 123/212 on Electricity and Natural Gas has set as a general principle that energy competitive market and electricity transactions should take place in a transparent, public, centralized and non-discriminatory way. Therefore, all the new transactions have to be the result of the participation on the centralized markets administrated by Opcom, the only owner of a license issued for the electricity market operation in Romania. In this respect, efforts have been made by all the responsible factors for covering the diversity of trade products requested by the market 7

8 participants. Currently, two new centralized markets are to be implemented at Opcom level as soon as possible the organize framework for contracting energy for large end consumers and the centralized market trading with continuous double negotiation of bilateral contracts for electricity (developed based on a OTC platform model). The volumes traded and the average prices on each type of contracts and on the main components of the wholesale market are presented in the following tables for December 212 compared to the month before and December 211. The aggregated volumes and the average prices for November and December 212 on OTC contracts and on negotiated contracts are reported by the market participants at their own risk and they should reflect only the ongoing contracts which had been concluded before Law no. 123/212 entered into force. 8

9 TRANSACTIONS ON THE WHOLESALE MARKET 1. BILATERAL CONTRACTS MARKET November 212 December 212 December 211 traded volume (GWh) % from internal consumption (%) average price (lei/mwh) Sales on regulated contracts traded volume (GWh) % from internal consumption (%) average price (lei/mwh) Sales on contracts concluded on other platforms * traded volume (GWh) % from internal consumption (%) average price (lei/mwh) Sales on negotiated contracts** traded volume (GWh) % from internal consumption (%) average price (lei/mwh) EXPORT*** traded volume (GWh) % from internal consumption (%) average price (lei/mwh) CENTRALISED MARKETS OF CONTRACTS delivered volume (GWh) % from internal consumption (%) average price (lei/mwh) DAY AHEAD MARKET traded volume (GWh) % from internal consumption (%) average price (lei/mwh) INTRADAY MARKET**** traded volume (GWh) % from internal consumption (%) average price (lei/mwh) BALANCING MARKET traded volume (GWh) % from internal consumption (%) upward volume (GWh) average negative imbalance price(lei/mwh) downward volume (GWh) average positive imbalance price (lei/mwh ) INTERNAL CONSUMPTION (includes distribution and transmission losses) (GWh) Note: * After a large consultation process with market participants, starting with January 212, the contracts concluded on other platforms (such as ICAP, TFS) have been separately identified; before this, these volumes had been comprised within negotiated contracts ** Supply contracts to consumers and export contracts are not included; volumes traded on negotiated contracts do not include the quantities resulted from the processing contracts concluded between the fuel suppliers and the generators, as this activity is not subject of ANRE regulations and not comprised within the market participants reports *** Export volumes correspond to the quantities for which CN Transelectrica SA applied extraction component of transmission tariff for export. which in some cases are different to those reported as traded by participants **** The average monthly price has been calculated based on monthly traded volume and transaction value published by SC Opcom SA 9

10 TRANSACTIONS ON THE WHOLESALE MARKET BILATERAL CONTRACTS MARKET traded volume (GWh) % from internal consumption (%) average price (lei/mwh) Sales on regulated contracts traded volume (GWh) % from internal consumption (%) average price (lei/mwh) Sales on contracts concluded on other platforms * traded volume (GWh) 162 % from internal consumption (%) average price (lei/mwh) 1.3. Sales on negotiated contracts** traded volume (GWh) % from internal consumption (%) average price (lei/mwh) EXPORT*** traded volume (GWh) % from internal consumption (%) average price (lei/mwh) CENTRALISED MARKETS OF CONTRACTS delivered volume (GWh) % from internal consumption (%) average price (lei/mwh) DAY AHEAD MARKET traded volume (GWh) % from internal consumption (%) average price (lei/mwh) INTRADAY MARKET**** traded volume (GWh) % from internal consumption (%) average price (lei/mwh) BALANCING MARKET traded volume (GWh) % from internal consumption (%) upward volume (GWh) average negative imbalance price(lei/mwh) downward volume (GWh) average positive imbalance price (lei/mwh ) INTERNAL CONSUMPTION (includes distribution and transmission losses) (GWh) Note: * After a large consultation process with market participants, starting with January 212, the contracts concluded on other platforms (such as ICAP, TFS) have been separately identified; before this, these volumes had been comprised within negotiated contracts ** Supply contracts to consumers and export contracts are not included; volumes traded on negotiated contracts do not include the quantities resulted from the processing contracts concluded between the fuel suppliers and the generators, as this activity is not subject of ANRE regulations and not comprised within the market participants reports *** Export volumes correspond to the quantities for which CN Transelectrica SA applied extraction component of transmission tariff for export. which in some cases are different to those reported as traded by participants **** The average monthly price has been calculated based on monthly traded volume and transaction value published by SC Opcom SA 1

11 The percentage of electricity quantities from the internal consumption (see table from above) offers a dimensional reference for each of the specified markets. Prices include only the injection component of the transmission tariff, in this way being comparable within a month and making possible the comparison with the previous month. The following graph presents the evolution of the relation between the volumes sold on each market and the estimated internal consumption, for period of GWh 1 Monthly evolution of volumes traded on wholesale market compared to internal consumption REGULATED CONTRACTS MARKET NEGOTIATED CONTRACTS MARKET CONTRACTS ON OTHER PLATFORMS CENTRALISED MARKETS OF CONTRACTS DAY AHEAD MARKET BALANCING MARKET Internal consumption (includes also distribution & transmission losses) Source: Monthly reports of wholesale market participants. SC Opcom SA and CN Transelectrica SA processed by MG Note: In the above graph, the volumes traded on negociated contracts market do not include the export trades 11

12 The following graph presents the monthly values of commercial export (quantities for which the extraction component of transmission tariff was applied), commercial import (quantities for which the injection component of transmission tariff was applied) and the net export (export minus import) in the last 24 months:.6 Monthly evolution of export, import and net export of electricity for the last 2 years TWh.2.1 export. -.1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec import Commercial export Commercial import Net export Source: Monthly reports of CN Transelectrica SA processed by MG The following graph presents the volumes and the monthly average prices on DAM starting with January 26. Monthly evolution of the traded volume and average prices on DAM lei/mwh 35 GWh IAN 6 APR IUL OCT IAN 7 APR IUL OCT IAN 8 APR IUL OCT IAN 9 APR IUL OCT IAN 1 APR IUL OCT IAN 11 APR IUL OCT IAN 12 APR IUL OCT Traded volume on DAM Average price on DAM Source: Monthly reports of SC Opcom SA and CN Transelectrica SA processed by MG 12

13 Balancing electricity is determined by the dispatch orders (accepted offers) received by generators. After settlement, the actual electricity delivered by generators on balancing market is determined based on the measured (approved) values; the relation between the accepted and delivered electricity in December 212, and the entire year 212 presented in the following table: December 212 Dispach order (GWh) Delivered electricity (GWh) Deviation (%) Secondary regulation 8 8 upward downward Fast tertiary regulation upward downward Slow tertiary regulation upward downward TOTAL upward downward INTERNAL CONSUMPTION 4518 % share of traded volumes from internal consumption 7.9% Source: Monthly reports of CN Transelectrica SA processed by MG YEAR 212 Dispach order (GWh) Delivered electricity (GWh) Deviation (%) Secondary regulation upward downward Fast tertiary regulation upward downward Slow tertiary regulation upward downward TOTAL upward downward INTERNAL CONSUMPTION % share of traded volumes from internal consumption 9.% Source: Monthly reports of CN Transelectrica SA processed by MG 13

14 The structure of balancing electricity delivered in the system on each type of regulation starting from July 25 is presented in the graph below: GWh Monthly evolution of delivered electricity on Balancing Market Secondary regulation Fast tertiary regulation Slow tertiary regulation Source: Monthly reports of CN Transelectrica SA processed by MG For comparison, the following graph presents the evolution of reserves (ancillary services, i.e. obligations of generators to maintain their contracted capacities available for dispatching/offering on BM) acquired/paid by CN Transelectrica SA starting with July 25: h*mw Structure of reserves acquired by CN Transelectrica SA 1,5, 1,25, 1,, 75, 5, 25, Secondary regulation Fast tertiary regulation Slow tertiary regulation Source: Monthly reports of CN Transelectrica SA processed by MG 14

15 The following graph presents the evolution of electricity traded by CN Transelectrica SA on the Balancing Market for covering the electricity used for congestion management (in order to solve the congestions occurred within the transmission grid) and the evolution of the values of these transactions starting from July 25. GWh Monthly evolution of the volume and value of the electricity delivered for the congestion management thou lei Electricity delivered for the congestion management Management congestion value Source: Monthly reports of CN Transelectrica SA processed by MG 5. Trading structure on the wholesale electricity market of different participant categories Generators The structure of electricity sales obligations contracted before delivery day by the electricity generators with dispatchable units in December 212 compared to previous month and December 211 was the following: Transaction type November 212 December GWh - December Regulated to incumbents, thermal generators Regulated to incumbents, hydro generator Regulated to incumbents, nuclear generator Regulated for distribution losses. thermal generators Regulated for distribution losses, hydro generator Regulated for distribution losses, nuclear generator Regulated for transmission losses, thermal generator Regulated, to other generators (with return of obligation within a year) Negotiated, to other generators Negotiated, to suppliers Contracts concluded on centralized markets (CMBC, CMBC-NC, RCE) Supply to consumers (regulated and competitive) Export DAM Total Source: Monthly reports of generators processed by MG 15

16 Suppliers In December 212, 75 companies having as main activity the supply of electricity concluded transactions on the electricity market; from these, 35 suppliers traded electricity exclusively on the wholesale market and 4 suppliers on both retail and wholesale markets (in this category are also included the 5 incumbent suppliers). Suppliers acting exclusively on WEM The following table shows the activity for December 212 compared to December 211 of the suppliers acting exclusively on WEM, acquisitions and sales being split by categories of markets/participants: - GWh - Transactions structure of suppliers acting exclusively on WEM December 211 December 212 Acquisitions Import Negotiated contracts with suppliers Negotiated contracts with generators Contracts concluded on centralized markets Contracts on OTC platforms DAM Sales Export Negotiated contracts with suppliers Negotiated contracts with generators Contracts concluded on centralized markets Contracts on OTC platforms DAM In addition to the data from the table above, the following graph presents the minimum, average and maximum actual prices by categories of transactions completed by the suppliers acting exclusively on WEM (traders) in December 212: lei/mwh 4 Transactions concluded by suppliers acting exclusively on WEM - DECEMBER GWh 16. ACQUISITION SALES GWh 1347 GWh GWh GWh GWh 234 GWh GWh 135 GWh 132 GWh 85 GWh 69 GWh 17 GWh 2. import negotiated contracts with suppliers negotiated contracts with generators contracts on centralised markets contracts on OTC platforms DAM export negotiated contracts with suppliers negotiated contracts with generators contracts on centralised markets contracts on OTC platforms Min price Weighted average price Max price Traded volume DAM. Source: Monthly reports of the competitive suppliers processed by MG 16

17 Active suppliers on REM (the incumbent suppliers are not included) The following table presents aggregated information on transactions volume and structure for suppliers providing electricity to final consumers, on the competitive market, for December 212 and December GWh - Transactions structure of suppliers providing electricity to final December December consumers (the incumbent suppliers are not included) Acquisitions Import Negotiated contracts with suppliers Negotiated contracts with generators Contracts concluded on centralized markets Contracts on OTC platforms 7.68 DAM Sales Export Negotiated contracts with suppliers Negotiated contracts with generators Contracts concluded on centralized markets Contracts on OTC platforms DAM Contracts with industrial consumers In addition to the data from the table above, the following graph presents the sales structure and the minimum, average and maximum actual prices by categories of transactions completed by suppliers providing electricity to final consumers in December 212: Transactions concluded by suppliers providing electricity to final consumers (incumbent suppliers not included) - DECEMBER lei/mwh 4 ACQUISITION SALES GWh GWh 1153 GWh GWh 435 GWh 385 GWh GWh 5 12 GWh 71 GWh 44 GWh 47 GWh 3 GWh 44 GWh 2 import negotiated contracts with suppliers negotiated contracts with generators contracts on centralised markets contracts on OTC platforms DAM export negotiated contracts with suppliers negotiated contracts with generators contracts on centralised markets contracts on OTC platforms Min price Weighted average price Max price DAM contracts with industrial consumers Traded volume Source: Monthly reports of the competitive suppliers processed by MG 17

18 Incumbent suppliers Electricity acquisition structure of incumbent suppliers (before the delivery day), for supplying the regulated market consumers, is presented in the table below, for December 212 compared to the situation of December 211: - GWh - Acquisition structure of incumbent suppliers for regulated REM component December 211 December 212 Regulated contracts with generators Negociated contracts Contracts concluded on centralized markets Intraday.. DAM The structure of the electricity purchased by the incumbent suppliers from the main generators on regulated contracts is presented in the following graph for December 212 and the entire year 212: Electricity aquisition from main generators, on regulated contracts, of incumbent suppliers for delivering electricity to final consumers on regulated market DECEMBER 212 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % CEZ EON ENEL ENELM EFURN TOTAL SN Nuclearelectrica SA SC Complexul Energetic Oltenia SA SC Electrocentrale Bucuresti SA SC Complexul Energetic Hunedoara SA SC OMV Petrom SA SC Hidroelectrica SA Source: Monthly reports of the incumbent suppliers processed by MG 18

19 Electricity aquisition from main generators, on regulated contracts, of incumbent suppliers for delivering electricity to final consumers on regulated market YEAR 212 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % CEZ EON ENEL ENELM EFURN TOTAL SN Nuclearelectrica SA SC Complexul Energetic Oltenia SA SC Electrocentrale Bucuresti SA SC OMV Petrom SA SC Complexul Energetic Hunedoara SA SC Hidroelectrica SA Source: Monthly reports of the incumbent suppliers processed by MG Under the Memorandum of Understanding approved by the Romanian Government in its meeting of 13 March 212 and in accordance with the obligations assumed by the Romanian Government in relation with the IMF, World Bank and European Commission there has been approved the timetable for the phasing out of regulated electricity tariffs to final consumers who choose not to exercise their eligibility rights. Under these circumstances, the incumbent suppliers apply a new tariff for the active power to the non-household customers who do not exercise their eligibility rights called the Competitive Market Component (CMC). Therefore, starting with 1st September 212, the incumbent suppliers display this tariff component separately in the bills of non-household customers who do not exercise their eligibility rights, which was proposed by each incumbent supplier and finally approved by ANRE, in accordance with the provisions of ANRE Order no. 3/212 for approving the Methodology to set up prices and tariffs to the final customers who chose not to exercise their eligibility rights. 19

20 The following table presents the electricity acquisition structure of incumbent suppliers for CMC (before the delivery day) for December 212. Acquisition structure of incumbent suppliers for CMC Quantity [GWh] Average price [lei/mwh ] Negotiated contracts Contracts concluded on centralized markets Contracts IntraDay DAM TOTAL Similar to the situation presented for the regulated REM, the table below presents the structure of incumbent suppliers transactions (before the delivery day), corresponding to the competitive REM (energy supplied at negotiated prices to the consumers who renounced to regulated tariffs) for December 212 compared to December 211: Transactions structure of incumbent suppliers for competitive REM component December GWh - December 212 Acquisitions Import Negotiated contracts with suppliers Contracts concluded on centralized markets DAM Sales Negotiated contracts with suppliers Negotiated contracts with distributors.. Contracts concluded on centralized markets 4.2. DAM Final consumers The structure by types of sources/destinations of the traded volumes combined with the actual average prices of the incumbent suppliers corresponding to the competitive segment of REM is presented in the following graph for December 212: 2

21 Transaction concluded by incumbent suppliers providing electricty on the competitive component of REM - DECEMBER lei/mwh 3 ACQUISITION SALES GWh GWh GWh GWh 5 48 GWh 59 GWh 6 GWh 6 GWh 21 GWh 1 import negotiated contracts with suppliers contracts on centralised markets DAM negotiated contracts with nondispatchable negotiated contracts with suppliers generators + self production DAM contracts with industrial consumers Weighted average price Traded volume Source: Monthly reports of the incumbent suppliers processed by MG Main distribution operators The following table shows the electricity acquisition structure of main distribution operators (before the delivery day), for covering the distribution network losses, for December 212 compared to December 211: - GWh - Acquisition structure December December Regulated contracts with generators Negotiated contracts with suppliers 4.2 DAM The electricity purchased by the 8 distribution operators from the main generators on regulated contracts, for covering their network losses is presented in detail in the following graph, for December 212 and the entire year 212: 21

22 Electricity acquisition of distribution operators from main generators, on regulated contracts, for covering the distribution losses DECEMBER 212 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % CEZ EON ENEL-BAN ENEL-DOB ENEL-MUN MUN TRN TRS TOTAL SN Nuclearelectrica SA SC Complexul Energetic Oltenia SA SC Electrocentrale Bucuresti SA SC Complexul Energetic Hunedoara SA SC OMV Petrom SA SC Hidroelectrica SA Source: Monthly reports of the distribution operators processed by MG Electricity acquisition of distribution operators from main generators, on regulated contracts, for covering the distribution losses YEAR 212 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % CEZ EON ENEL-BAN ENEL-DOB ENEL-MUN MUN TRN TRS TOTAL SN Nuclearelectrica SA SC Complexul Energetic Oltenia SA SC Electrocentrale Bucuresti SA Complexul Energetic Hunedoara OMV Petrom SC Hidroelectrica SA Source: Monthly reports of the distribution operators processed by MG 22

23 6. Concentration indicators on the wholesale electricity market and its components According to the economic theory and the EU documents, the following market concentration indicators may be defined: HHI, Herfindahl-Hirschman Index = sum of square market shares (%) of participants: The indicator values signify: HHI < 1 non-concentrated market; 1 < HHI < 18 moderately concentrated market; HHI > 18 highly concentrated market. C3 = sum of market shares of the main three participants in the market: The indicator values signify: 4% < C3 < 7% moderately concentrated market; C3 > 7% highly concentrated market. These concentration indicators may be defined for the wholesale market (electricity market or ancillary services market) or for each of its components where direct competition takes place. Concentration indicators and market shares of the electricity generators The market structure regarding the electricity generation offers an initial basis for analyzing the possible competitiveness level of the electricity market. The following table presents the concentration indicators of electricity generation for December 212, calculated based on electricity delivered into the networks by the generators with dispatch units. Concentration indicators - December C1 (%) C3 (%) HHI Value Source: Monthly reports of generators processed by MG The market shares of the electricity generators, taking into account all components of the wholesale electricity market, are presented in the following graph, in 212. These annually market shares are based on the electricity delivered into networks for CE Rovinari, CE Turceni, CE Craiova and CE Oltenia calculated as a whole. The same calculus is applied to Electrocentrale Paroşeni, Electrocentrale Deva and CE Hunedoara. 23

24 Electricity market monitoring report December 212 Source: Monthly reports of generators processed by MG A component of the WEM where direct competition between generators exists is the Balancing Market (BM). The values of concentration indicators on this market are determined based on effectively delivered electricity, for each type of regulation defined within the Commercial Code, and they are presented in the following table for December 212 and the entire year 212: Structure/concentration indicators of BM December C1 - % C3 - % HHI Regulation Fast tertiary upward downward Source: Monthly reports of CN Transelectrica SA processed by MG Structure/concentration indicators of BM YEAR 212 C1 - % C3 - % HHI Secondary upward downward Secondary upward downward Regulation Fast tertiary upward downward Slow tertiary upward downward Slow tertiary upward downward Source: Monthly reports of CN Transelectrica SA processed by MG The competition between generators is also present when speaking about the ensuring the reserves necessary for security of supply in the NES. Due to the fact that generators have different levels of capabilities for ensuring this type of service, this market has an important regulated component. The relationship between regulated and competitive components on the Ancillary Services Market (ASM) 24

25 as well as the main concentration indicators on each type of reserve (secondary, fast tertiary and slow tertiary) are presented in the following table for December 212 and the entire year 212: Concentration indicators on ASM - December regulated component competitive component contracted quantity (h*mw) Secondary reserve Fast tertiary reserve Slow tertiary reserve C1 (%) C3 (%) contracted quantity (h*mw) C1 (%) C3 (%) HHI Source: Monthly reports of CN Transelectrica SA processed by MG Concentration indicators on ASM - YEAR regulated component competitive component contracted quantity (h*mw) Secondary reserve Fast tertiary reserve Slow tertiary reserve C1 (%) C3 (%) contracted quantity (h*mw) C1 (%) C3 (%) HHI Source: Monthly reports of CN Transelectrica SA processed by MG Concentration Indexes for the Day Ahead Market Day Ahead Market (DAM) is a voluntary market, opened both for buying and selling for all types of market participants: generators, suppliers, grid operators, under aplicable regulations. The concentration indicators on DAM reflects the level of competition between sellers and between buyers respectively, the dynamics of both influencing the price level. The following table presents C1, C3 and HHI for buying and for selling side of DAM in December 212, based on quantities traded by participants on this market. Concentration indicators on DAM - December C1 (%) C3 (%) HHI Buying Selling Source: Monthly reports of SC Opcom SA processed by MG 25

26 7. Price evolution on wholesale electricity market SC Opcom SA is the administrator of DAM. The MCP on DAM represents a reference value for the prices on the bilateral contracts. The evolutions of hourly and daily average prices on DAM in December 212 and for 212 are presented in the following graphs, along with the prices on EXXA. For comparison with prices on the European power exchanges, the spot price on SC Opcom SA is denominated in EUR, taking into consideration the daily exchange rates Euro/leu communicated by the National Bank of Romania. Euro/MWh 14 HOURLY SPOT PRICES December EXAA Opcom Source: Daily reports of SC Opcom SA and published data of EXAA processed by MG 26

27 Euro/MWh HOURLY SPOT PRICES 212 Max EXAA: 176 Euro/MWh Max Opcom: 96 Euro/MWh EXAA Opcom Source: Daily reports of SC Opcom SA and published data of EXAA processed by MG Euro/MWh 8 DAILY AVERAGE SPOT PRICES December Dec-12 8-Dec Dec Dec Dec-12 Opcom EXAA Source: Daily reports of SC Opcom SA and published data of EXAA processed by MG 27

28 DAILY AVERAGE SPOT PRICES 212 Euro/MWh EXAA Opcom The following graph presents the evolution of weekly average spot prices starting with July 25: 4 Weekly average spot prices July 25 - December lei/mwh Jul-5 Sep-5 Nov-5 Jan-6 Mar-6 May-6 Jul-6 Sep-6 Nov-6 Jan-7 Mar-7 May-7 Jul-7 Sep-7 Nov-7 Jan-8 Mar-8 May-8 Jul-8 Sep-8 Nov-8 Jan-9 Mar-9 May-9 Jul-9 Sep-9 Nov-9 Jan-1 Mar-1 May-1 Jul-1 Sep-1 Nov-1 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Peak prices (6-22) Base prices (-24) Source: Daily reports of SC Opcom SA processed by MG 28

29 In order to cover the differences between planned/contracted amounts of consumption/ generation and the real time consumption, the system operator (CN Transelectrica SA) operates the BM by buying or "selling" electricity at prices determined by the merit order of dispatchable generators offers. The participants who generate the imbalances, grouped in BRPs, have to bear the imbalances costs. For the negative imbalances, they have to pay the settlement price resulting from the upward bids accepted on the BM, while for the positive imbalances they receive the settlement price resulting from the downward bids accepted on the BM. The settlement prices (MCP on DAM, negative imbalance settlement price and positive imbalance settlement price) are represented on the same graph, showing the two markets correlation degree. In the first graph the prices are expressed in hourly values, in the second graph in hourly average values compared to internal consumption, and in the last graph in average monthly values. lei/mwh Hourly settlement prices December Negative imbalance settlement price Positive imbalance settlement price DAM price cap price on BM Source: Daily/monthly reports of SC Opcom SA processed by MG 29

30 lei/mwh Hourly average settlement prices and internal consumption December 212 MWh Positive imbalance settlement price Negative imbalance settlement price DAM price Consumption Source: Monthly reports of SC Opcom SA and CN Transelectrica SA processed by MG Monthly average prices on DAM and BM July 25 - December lei/mwh Average price on the DAM Average negative imbalance settlement price Average positive imbalance settlement price Linear (Average price on the DAM) Linear (Average negative imbalance settlement price) Linear (Average positive imbalance settlement price) Source: Monthly/daily reports of SC Opcom SA processed by MG 3

31 III. RETAIL ELECTRICITY MARKET 1. Structure of the retail electricity market INCUMBENT SUPPLIER SUPPLIER SUPPLIER OF LAST RESORT Consumers supplied on regulated market Consumers supplied on competitive market Consumers supplied at tariffs settled for SoLR 2. Steps in the opening process of the electricity market Government Decision Opening degree % Annual consumption threshold GWh/year No. 122/2, published in O.G. 77/ No. 982/2, published in O.G. 529/ No. 1272/21, published in O.G. 832/ No. 48/22, published in O.G. 71/ No. 1563/23, published in O.G. 22/ No. 1823/24, published in O.G. 162/ No. 644/25, published in O.G. 684/ No. 638/27, published in O.G. 427/ Electricity market opening degree The following graph contains the quota of the consumption from total consumption, of the consumers who switched their supplier or renegotiated their contracts with the suppliers operating on the regulated market, during January 24 December 212. The values presented are cumulated from the beginning of the opening process and are presented monthly: 31

32 Opening degree evolution for electricity market January 24 - December 212 GD 638/27: 1% 1% 9% GD 644/25: 83,5% 8% 7% 6% GD 1823/24: 55% opening degree settled by GD 1563/23: 4% 5% 5% 4% 3% 2% 1% % Jan- 4 Apr Jul Oct Jan- 5 Apr Jul Oct Jan- 6 Apr Jul Oct Jan- 7 Apr Jul Oct Jan- 8 Apr Jul Oct Jan- 9 Opening degree settled by Government Decision Apr Jul Oct Jan- 1 Consumption (%) of the consumers who switched or renegociated the contract Apr Jul Oct Jan- 11 Source: Monthly reports of the final consumers' suppliers processed by MG Apr Jul Oct Jan- 12 Apr Jul Oct 4. Market shares of the electricity suppliers In the following three graphs there are presented the market shares of electricity suppliers on the retail market, calculated: a) for all suppliers (including the incumbents) on REM based on the electricity supplied to the consumers on regulated tariffs (including CMC) as well as to the consumers who switched their supplier or renegociated their contract; 32

33 Market shares of suppliers for final consumers ENEL Energie; 9.86% ENEL Energie Muntenia; 1.22% E.ON Energie Romania; 8.43% CEZ Vanzare; 8.2% Alro; 6.72% Tinmar Ind; 3.14% Repower Furnizare Romania; 2.91% Energy Holding; 2.63% OMV Petrom; 2.2% Alpiq RomEnergie; 2.1% Arcelormittal Galati; 2.8% CE OLTENIA; 1.81% Alpiq RomIndustries; 1.75% Electromagnetica; 1.63% EFT Romania; 1.35% Altii; 12.51% Final consumption: GWh Electrica Furnizare; 22.65% Category "Altii" includes 46 suppliers with individual market share less than 1% Source: Monthly reports of the incumbent suppliers processed by MG b) for incumbent suppliers - based on the electricity supplied to the consumers at regulated tariffs: Market shares of incumbent suppliers on regulated market E.ON ENERGIE ROMANIA 14.25% CEZ VANZARE 13.55% ENEL ENERGIE 16.65% ENEL ENERGIE MUNTENIA 17.28% ELECTRICA FURNIZARE 38.27% Consumption of consumers supplied at regulated tariffs: 288 GWh Source: Monthly reports of the incumbent suppliers processed by MG 33

34 and c) for all suppliers (including the incumbents) based on the electricity supplied for the consumers at negociated prices on competitive component of REM: Market shares of suppliers delivering electricity on the competitive market Alpiq RomEnergie; 3.88% Arcelormittal Galati; 3.85% OMV Petrom; 4.6% CE OLTENIA; 3.34% CEZ Vanzare; 4.1% Alpiq RomIndustries; 3.23% E.ON Energie Romania; 4.76% Electromagnetica; 3.1% Energy Holding; 4.87% Repower Furnizare Romania; 5.38% Tinmar Ind; 5.81% Electrica Furnizare; 11.83% ENEL Energie; 2.87% EFT Romania; 2.5% ENEL Energie Muntenia; 1.9% CE Craiova; 1.81% Renovatio Trading; 1.8% EGL Gas & Power Romania; 1.78% OET Targovsti; 1.63% Transenergo Com; 1.43% Hidroelectrica; 1.24% RAAN - Romag Termo; 1.9% Nuclearelectrica; 1.5% Arelco Distributie; 1.5% Altii; 9.29% Alro; 12.43% Consumption on competitive market: 2515 GWh Structure indicators: HHI - 53; C3-3%; C1-12% Category "Altii" includes 37 suppliers with individual market share less than 1% Source: Monthly reports of the competitive suppliers processed by MG The structure indicators were calculated without considering the principle of dominance. The delivered electricity (used for calculating the market shares) comprises the self-consumption of large industrial consumers who possess supply licenses and acquire electricity from the wholesale market as competitive suppliers. The values of market indicators were calculated without taking into consideration the dominance principle. The delivered electricity used for determining the market share of each supplier comprises the self-consumption of the largest industrial consumer which owns a supply license and based on it acquired its electricity from the WEM as a competitive supplier. The electricity supplied to the final consumers used for calculating the market share of every supplier includes also the self-consumption of that particular supplier (e.g. consumers with supply license who buy electricity for themselves from WEM as competitive suppliers). 34

35 The analysis of the competitive suppliers activity on the competitive REM component compared to their activity on the WEM is developed based on the weight of the electricity sold to final consumers in total electricity sales. The table below presents the number of suppliers acting on the REM, grouped into categories of sales weight during December 212: Number of suppliers Share of sales to final consumers from total sales transactions 1% 75% - 1% 5% - 75% <5% Competitive Incumbent Concentration indicators of the competitive retail electricity market The monthly evolution of concentration indicators (C3, HHI) determined on the competitive component of the REM is presented for December 211 December 212 in the following graph: Herfindahl-Hirschman (HHI) and Concentration Ratio of the main three suppliers delivering electricity on competitive market (C3) HHI C3 [%] JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 212 Source: Monthly reports of the suppliers processed by MG 35

36 The table below shows the values of structure indicators of competitive component of REM for and the number of active suppliers in December 212 and the entire year 212, calculated for each consumer category as defined by the Directive 28/92/EC of the European Parliament and of the Council: Indicators - December 212 Consumer category IA IB IC ID IE IF Other Total REM C1 - % C3 - % HHI Consumption - GWh No. of SUPPLIERS No. of incumbent suppliers No. of competitive suppliers No. of producers Source: Monthly reports of the suppliers processed by MG Indicators - December 212 Consumer category IA IB IC ID IE IF Other Total REM C1 - % C3 - % HHI Consumption - GWh No. of SUPPLIERS No. of incumbent suppliers No. of competitive suppliers No. of producers Source: Monthly reports of the suppliers processed by MG 6. Evolution of consumers number and of electricity delivered Number of consumers supplied on the competitive market is presented as total value from the beginning of the market opening process; for December 212 this number is split into categories, according to the provisions of Directive 28/92/EC of the European Parliament and of the Council. The table below presents the bands of consumption of each category of consumers: Industrial end-user Annual electricity consumption (MWh) Lowest Highest IA <2 IB 2 <5 IC 5 <2 ID 2 <2 IE 2 <7 IF 7 <=15 Others >15 36

37 Evolution of the number of supplied consumers and delivered electricity on the competitive market No of consumers GWh/month JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 212 No of consumers supplied on the competitive market Electricity supplied on the competitive market Source: Monthly reports of the competitive suppliers processed by MG Number of consumers supplied on competitive market and the consumption of each category of consumers - DECEMBER 212-8, 7,5 7, 6,5 6, No. of consumers 5,5 5, 4,5 4, 3,5 3, 2, Consumption (GWh) 2, 1, , 5 4 IA IB IC ID IE IF Other No. of consumers supplied by competitive suppliers No. of consumers supplied by incumbent suppliers Consumption (MWh) Source: Monthly reports of the suppliers processed by MG 1 37

38 Number of consumers supplied on competitive market and the consumption of each category of consumers - YEAR 212-8, 7,5 7, 6,5 6, , 1, No. of consumers 5,5 5, 4,5 4, 3,5 3, 2,5 2, 1,5 1, , 6, 4, 2, Consumption (GWh) 5 56 IA IB IC ID IE IF Other No. of consumers supplied by competitive suppliers No. of consumers supplied by incumbent suppliers Consumption (MWh) Source: Monthly reports of the suppliers processed by MG 7. Average selling prices of consumers supplied on the competitive market The following graph presents the average selling prices of consumers supplied on the competitive market, based on the structure defined according to the Directive 28/92/EC of the European Parliament and of the Council. 38

39 Average price and energy consumption on types of consumers applied on compatitive market - DECEMBER lei/mwh GWh IA IB IC ID IE IF Other Consumation ( MWh) Average price ( lei/mwh) Source: Monthly reports of the competitive suppliers processed by MG Average price and energy consumption on types of consumers applied on compatitive market - YEAR lei/mwh GWh IA IB IC ID IE IF Other Consumation ( MWh) Average price ( lei/mwh) Note: The average selling price on each category was calculated as weighted average of prices applied by suppliers with quantities supplied according to the provisions of the European Directive. The average prices do not include VAT, excise or other taxes but include the supplied services (injection and extraction components of transmission, system services, distributi, market settlement, imbalance, BRP aggregated taxe, metering). Splitting consumers into categories was based on their annual consumption forecast, according to the provisions of above mentioned Directive. 39

40 IV. TRANSMISSION AND SYSTEM OPERATOR C.N. TRANSELECTRICA S.A. CN Transelectrica SA performs the electricity transmission service at regulated tariffs, which have two components: injection component (TG), aimed to determine an optimum geographic positioning of the new power units; extraction component (TL), as an incentive for an equilibrate positioning into the teritorry of the consumers. The following graph presents the structure of CN Transelectrica SA revenues from performing the transmission services and reflects the structure of its clients benefiting from this type of service in December 212. CN Transelectrica SA structure of revenues from transmission services - December Extraction component - Incumbent suppliers* 27.6% Extraction component - Distrib losses 1.3% Extraction component - Export 1.4% Extraction component - Auto-consump of generators 1.1% Injection component - Import.8% Extraction component - Supply for consumers on competitive market 14.6% Injection component - Generators 44.3% * for electricity extracted from their own licence areas as well as from other areas Source: Monthly reports of CN Transelectrica SA processed by MG In order to perform the system operator tasks, CN Transelectrica SA assesses and contracts reserves (ancillary services) from qualified generators, which are integrated on BM. The ancillary services which may be used are reserves for secondary, fast tertiary, slow tertiary regulation and reactive energy. The following graph presents the costs of ancillary services CN Transelectrica SA had to pay in December 212. In order to cover these costs and it own operating costs. TSO applies a regulated tariff for system services. 4

41 slow tertiary reserve % fast tertiary reserve % Structure of CN Transelectrica SA costs with ancillary services acquired from qualified generators - December secondary reserve % Source: Monthly reports of CN Transelectrica SA processed by MG V. DISCLOSURE OF THE ELECTRICITY SUPPLIED IN 212 The 212 Romanian Electricity Label for the consumers who are supplied at regulated tariffs was calculated based on the provisions of the Regulation on electricity disclosure revision 1, approved by ANRE Order no. 69/29. The 212 Romanian Electricity Label contains data referring to the electricity structure by primary sources of the incumbent suppliers acquisition and by the total electricity generation in Romania.. 41

42 ELECTRICITY LABEL FOR THE CONSUMERS SUPPLIED AT REGULATED TARIFFS Supplier: Telefon: Web: Incumbent supplier X 8 - xxxxxxxxxx Electricity supplied by the supplier X in 212 Electricity supplied by the supplier X was produced from the following sources Primary Energy Source Supplier Romania Electricity Production 212 C o a l % N u c l e a r % Coal 35.44% 37.62% Nuclear 3.69% 19.59% Gas 14.71% 13.79% Oil.71%.58% Other conventional.%.51% Renewable 18.44% Oil.71% G a s % Renewables: 18.44% 27.92% Hydroelectric 18.44% 22.17% Wind.% 5.35% Biomass.%.35% Solar.%.2% Other Renewables.%.3% Environmental impact CO 2 emissions of the supplier (39.7g/kWh) Radioactive wastes of the supplier (.6 g/ kwh) % CO2 emissions in Romania : g/kwh Radioactive wastes in Romania:.4 g/kwh Environmental impact over the sectorial average According to ANRE Order no. 69/29 - Electricity Disclosure Regulation ( In 212 the sectorial average of CO2 specific emissions resulted from the electricity generation was g/kwh. Based on this, the active suppliers on the competitive market have to specify in their own electricity label the environment impact of the electricity they supplied during 212, by comparing it with the sectorial average value. The average specific CO2 emissions split by primary sources were calculated as weighted averages of specific emissions and delivered electricity on each type of primary source. 42