Restart Energy, one of the largest independent electricity suppliers in the local market with a portfolio of around 50,000 customers, announces its strategic decision to stop supplying natural gas to focus on green energy, starting in 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, to be able to offer our investors added value in a predictable and stable framework“, says Armand Domuță, General Manager Restart Energy.
Target 2022: solar photovoltaic projects worth €20 million
In 2022 Restart Energy is targeting the completion of work on the 45 MW project worth €40 million, obtaining planning permission for a further 500 MW and the implementation of solar PV projects for industrial customers worth €20 million.
Since the 4th. a quarter of this year, the company has started implementing its expansion strategy in the production solutions area 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 upcoming 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 EUR 2 million exclusively from the segment of rooftop capacity development for industrial customers.
Restart Energy provides automatic and secures porting for approximately 18,000 customers
Restart Energy’s decision will have no impact on the supply of natural gas to the company’s approximately 18,000 customers, as they will be automatically and safely ported to ANRE’s allocated Last Resort Suppliers. Customers will have sufficient time to choose another supplier or decide to stay with the last resort supplier.
Regardless of the chosen supplier, starting with November 1st. 2021 until 31 of March 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, is also applied by suppliers during the same period.
Restart Energy thanks its customers and partners in the natural gas sphere with whom the company has had excellent cooperation over the last 7 years and assures them that they will continue to receive the highest quality service in the field of electricity supply and renewable green energy solutions so that the cost of energy is as low as possible, as well as the carbon footprint resulting from the current activity.
The current energy crisis will produce significant changes in the immediate period ahead, including insolvencies and the disappearance of some producers and suppliers from the market, Restart Energy management believes.