Restart Energy withdraws from the gas market. 18,000 customers will have to be taken over by other suppliers

Armand Domuta_CEO Restart Energy Sursa foto: Restart Energy

Restart Energy, one of the largest independent electricity suppliers in the local market, with a portfolio of around 50,000 customers, is switching from supplying natural gas to focusing on green energy from 2022.

“The natural gas market in Romania, but also at European level, is going through an extremely difficult period, characterized by high price volatility, lack of predictability in the supply area and major changes in a very short time horizon, which creates a real state of discomfort among both natural gas suppliers and end customers. These particular conditions are compounded by the legislative changes recently adopted in Romania, which we project will have a significant negative impact on the gas supply business. As a result, after careful analysis, we have decided to exit the natural gas supply business as of 2022 and focus on electricity and renewable energy solutions, in order to be able to offer our investors added value in a predictable and stable framework”, says Armand Domuța, General Manager Restart Energy.

2022 target: €20 million worth of solar PV projects

In 2022 Restart Energy is targeting the completion of work on the 45 MW project worth €40 million, obtaining the construction permit for a further 500 MW and the realization of solar PV projects for industrial customers worth €20 million.

Since the 4th quarter of this year, the company has started implementing its expansion strategy in the area of production solutions for small and medium-sized companies and prosumers. In line with the strategy adopted at the beginning of this year, Restart Energy is exploring new segments of the local and regional energy market that can offer steady growth prospects in the coming years, with high added value and creating synergies within existing business lines, such as the development of rooftop PV capacities.

Thus, by the end of this year, Restart Energy aims to generate revenues of around €2 million exclusively from the rooftop capacity development segment for industrial customers.

Restart Energy’s decision will have no impact on the supply of natural gas to the company’s approximately 18,000 customers, who will be automatically and safely allocated to ANRE’s allocated Suppliers of Last Resort. Customers will have sufficient time to choose another supplier or decide to stay with the supplier of last resort.

Regardless of the chosen supplier, during the period from November 1st, 2021 to March 31st, 2022, according to the recently adopted law on capping and compensation of energy and natural gas prices, the final invoiced price of natural gas will be capped at a maximum of 0.37 lei/kWh, of which the natural gas price component will amount to a maximum of 0.250 lei/kWh. In addition, for certain consumers whose natural gas consumption is up to 1,100 cubic meters, a compensation of 33% of the commodity gas price, directly on the bill, will also be applied by suppliers during the same period.

The current energy crisis will produce significant changes in the immediate period ahead, including insolvencies and the disappearance from the market of some producers and suppliers, Restart Energy management believes.

Sursa foto: Restart Energy

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