Azerbaijan and EU strengthen...

Azerbaijan and the European Union have expressed their readiness to strengthen cooperation in...

Ukraine receives second U.S....

Ukraine has received its second shipment of liquefied natural gas from the United...

Romania: EIB invests 30...

The European Investment Bank (EIB) is allocating up to 30 million euros to...

Montenegro: EPCG announces tender...

Montenegrin state-owned power utility EPCG has launched a tender for the procurement of...
Supported byClarion Energy banner
HomeSEE Energy NewsRomania, Alro Slatina...

Romania, Alro Slatina did not taken a decision to suspend operation despite the exceptional situation on high energy prices

Romanian aluminium producer Alro Slatina, the country’s largest single electricity consumer, said that it did not taken a decision to suspend operation despite the exceptional situation on electricity and natural gas markets.

The statement from the management comes after the trade unions reported earlier this week that the company is planning to cut production due to high energy costs. The management said that it is concerned about recent developments in energy prices, considering the levels reached in recent days as unfounded and economically unsustainable, adding that when it will make impact decisions for the company and investors, it will announce this according to the regulations in force.

Following the trade unions’ announcement, Alro shares dropped by 12.6 % in the Bucharest Stock Exchange.

Alro Slatina has posted losses in the first half of 2021. The company’s management pointed to high electricity costs and electricity supply uncertainties as the main challenges it encountered during the period. The company’s revenues amounted to 314 million euros in the first half of 2021, up by 13 % compared with the same period of last year. Namely, the company produced and sold more primary and processed aluminum and at higher prices.

However, it couldn’t fully benefit from the higher prices as it faced challenges in the local electricity market. Alro is the biggest industrial consumer of electricity in Romania and energy has a significant share in the company’s production costs. Alro posted a net loss of 9.7 million euros in H1 2021, compared to a net profit of 51.5 million euros in the same period of 2020.

 

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Azerbaijan and EU strengthen energy cooperation through gas and renewables expansion

Azerbaijan and the European Union have expressed their readiness to strengthen cooperation in the supply of natural gas and renewable energy, according to a statement from Azerbaijan’s Ministry of Energy. The first meeting of the working group established between Slovakia...

Ukraine receives second U.S. LNG shipment amid efforts to reduce Russian energy dependence

Ukraine has received its second shipment of liquefied natural gas from the United States, reinforcing its commitment to reducing reliance on Russian fossil fuels. According to the Financial Times, the shipment was procured by DTEK, Ukraine’s largest private energy...

Romania: EIB invests 30 million euros in Pestera II wind farm to boost renewable energy and energy security

The European Investment Bank (EIB) is allocating up to 30 million euros to support a major wind energy project in Romania, reinforcing the country’s transition to renewable energy and bolstering its energy independence. This investment will help develop a...
Supported bySEE Mining News
error: Content is protected !!