Major private energy tradersî€™ profits evaporate
considering the fact that exponential increases have become a common trend in recent years, reads Ziarul Financiar daily on September 11.
Energy Holding, the biggest private electricity trader, last year posted 3.9 million-euro net revenues, almost five times lower than in 2006, way below the company’s forecast.
Green Energy, an energy trader with turnover close to 50 million euros in 2006, 12.5 times higher than in 2005, and 2.5 million-euro net revenues, last year derived 19.7 million euro turnover and losses worth 0.6 million euros.
“This prompted the EFT to curb its long-term acquisitions in Romania to almost zero. Secondly, the poor trend of the euro-leu exchange rate that was registered during the year had a negative impact on income,” said the representatives of EFT Romania, which derived 49 million-euro turnover last year, up from the 32.8 million-euro level posted in 2006.
Analysts say this signals that the market is reaching maturity, with the possibility of increases such as those in 2005 and 2006 occurring again being almost zero. “The market has developed its mechanisms and it was only natural to reach this point.
“We can see many companies trying to diversify their operations by approaching some segments such as energy generation from renewable or conventional sources.
Companies that succeeded, however, in repeating the financial performances of 2006 and 2007 include Petprod, the second private player on the market, Euro Pec and Elcomex.