Romania’s Government will set a 90 % dividend payout ratio for the companies in whixch it is a sole or majority shareholder, under a provision included in the emergency ordinance that amends the “cap and subsidy” support scheme.
Under extraordinary circumstances, the ratio may be lower, in order to allow companies to finance their projects, but not below 50 %.
Amid rising energy prices, companies in the sector, most of which are state-controlled, will report significant profits in 2021. Nuclearelectrica already announced a net profit of over 200 million euros in 2021. Hidroelectrica also expects a record profit, after reporting a net profit of 520 million euros in the first nine months of the year, which is more than double the profit in the entire 2020. Romgaz reported net profit of over 260 million euros in the nine-month period, some 74 % more than in 2020.
It is possible that in the case of Nuclearelectrica and Romgaz the dividend payout ratio will be lower, so that the companies will have enough
money to finance strategic projects – the construction of units 3 and 4 at nuclear power plant Cernavoda, and the Neptune Deep gas project in the Black Sea.
Revenues from state-owned energy companies were assigned by the Ministry of Energy as sources for financing the price cap and offsetting scheme for this winter.
