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- EU-Moldova Deep and Comprehensive Free Trade Area: a springboard to modernization or a road to ruin?, Alex OPRUNENCO, Centrul Analitic Independent "EXPERT-GRUP", 10 May 2011, 12:30
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Parties-Phantoms, Parties - State Institutions, Parties - State Enterprises
20 parties have registered in the current election campaign. Many people say it is a too big number for such a small country as Moldova. At the same time, much more parties could take part in the election campaign.
Activists launch Moldova’s first ‘Space Camp’ © Susan Coughtrie
RED Union Fenosa is satisfied with current electricity rates, so far
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- Scandal in Moldovan parliament over deputies' relatives, INFOTAG, 29 July 2011, 9:00
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Company President Silvia Radu convened a news conference today on the occasion of the company's 10th anniversary in Moldova, and said that the latest tariff increase up to 1.33 lei per a kilowatt/hour was calculated proceeding from an exchange rate of MDL 12.3 to US$1. By now, however, the rate has already reached MDL 12.7.
So far, however, the difference between the real and the tariff cost has not yet reached 3% - the level at which the company is eligible to apply to the National Energy Regulatory Agency (ANRE) for a tariff revision. Silvia Radu said that this depends not solely on the company, "for the exchange rate, inflation and other factors may add corrections into our plans".
The company president said that the cost of electricity obtained from energy producers also tells on the ultimate tariff. Presently, the RED Union Fenosa is in negotiations on a new electricity purchase contract. Radu believes that, most probably, the contract will be concluded with the Moldavskaya Power Plant [near Tiraspol, the Republic of Moldova's biggest energy object, presently owned by the Inter RAO EES power giant of Russia]. The RED Union Fenosa has already sent a corresponding request to Moldavskaya.
Silvia Radu presumes the company will have to apply to the Government for its help in concluding the contract, bearing in mind the political component of the question.
Radu announced also conclusion of a contract on a 30 million euro credit from the European Bank for Reconstruction and Development (which is the holder of the company's 6%) and from the International Development Association. The means will be used for technical modernization of electricity distribution lines, substations, and other facilities.
In 2009, she said, the company achieved good results, and its income was approximately at the level of investment. Presently, the company invests annually some US$20 million in development, and in subsequent years will try to make investments at a level of not below US$14 million a year.
The RED UF's main shareholder is the Spanish company of GasNatural Union Fenosa, founded in 2007 as a result of the merger of GasNatural and Union Fenosa. The Spanish investor has purchased the RED Centru, RED Sud and RED Chisinau electricity distribution enterprises for US$25.8 million, and has already invested 2.2 billion lei in Moldova.
