In Romania primary energy resources edge down 0.1% y/y in May, on falling imports

Romania’s primary energy resources decreased insignificantly by 0.1% y/y to more than 2.6mn toe in May, according to a release of the state statistical institute published today. The slight fall was exclusively generated by a notable decrease of imports, especially in the gas and oil segments. Thus, gas imports fell to the lowest level recorded in a month this year and amounted to about 2,300 toe in May. Nevertheless, the Jan-May gas imports remained on a strong rise, fuelled by the high imports in January and February. Meanwhile, the local production accelerated growth, sustained by rising production of coal and gas necessary to fuel rising electricity generation in thermal plants. On the other hand, domestic production of primary energy resources was negatively affected by decreasing output of oil and electricity in May. The primary electricity (nuclear and hydro) generation decreased again y/y in May, most probably due to weaker generation in the hydro segment, which did not benefit from favorable weather conditions to boost electricity generation in the month.

As for the electricity resources, including the secondary electricity resources produced in traditional plants, the local production kept on falling, but with a milder pace in annual terms in May. The electricity generated in thermal plants increased significantly y/y in May, for the fourth consecutive month, sustaining the mild exports’ increase in the period. Meanwhile, the local consumption decreased in May again, even if the industry rebounded in the period. The drop was most probably generated by falling electricity consumption in the households segment and by the high base.

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