CEZ Q1 EBITDA from Power Production/Trade in Romania Up 149% Y/Y

BUCHAREST (Romania), May 10 (SeeNews) – Czech energy group CEZ said on Thursday that its first-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) from power production and trading segment in Romania surged to 800 million Czech crowns ($41 million/32 million euro) from 300 million crowns a year ago.

The rise was due to higher production in the company's Fantanele and Cogealac wind parks and positive impact of green certificates, CEZ said in its first-quarter report.

CEZ's other segment in Romania, distribution and sale, posted an EBITDA of 600 million crowns in the first quarter, up from 300 million crowns a year earlier, mainly due to improved payment discipline of the Romanian railway operator CFR, it said.

CEZ said it produced 283 gigawatt hours (GWh) of electricity in the first quarter at the two wind parks, up by 42% on the year. It expects the parks to produce 1,000 GWh of power this year.

The company also said it gradually installed 15 wind turbines in Fantanele park and connected seven turbines in Cogealac to the country's power grid in the first quarter.

CEZ plans to produce 1.1 terrawatt hours (TWh) of electricity from renewable resources in Romania this year, up from 600 TWh in 2011.

Besides the two wind parks, CEZ also operates a small hydropower plant near Resita, in western Romania.

CEZ is present in Romania since 2005.

(1 euro=25.169 Czech crowns)

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