Top energy traders are mostly local companies, but the situation could change once E.ON germany and CEZ Czech Republic, two of Europe’s largest companies in the field, come onto the Romanian market. The two giants bought branches of state-owned energy supplier Electrica. “We will be able to make qualifications of the market in two-three years time, when the competition becomes tougher. For the moment, we cannot speak of real competition, as long as production is controlled by the state,” CEZ Romania Development Manager, Doru Voicu, told Business Standard.
He added that the profitability of local traders is similar to that of companies operating in neighboring countries.
Energy Holding, a company controlled by Geneva-based Société Bancaire Privée, accounts for a third of the total energy trade, with turnover worth €306.5 million and net profits amounting to €17.8 million in 2006, up 30 and 76 percent, respectively, year-on-year. Early last year, the company closed a deal with Romania’s largest company, Petrom, to supply energy to its entire gas station network and 40 storage facilities.
Petprod, an energy trader supplying energy to steel plants Galati and Roman, owned by Arcelor Mittal, ranks second among top traders. The company doubled its turnover in 2006 to €87 million.
