natgillin/translations-raw huggingface dataset:
The cost structure of Hidroelectrica is characterised by high fixed costs (relating to the amortisation of power dams and of civil works and to regular maintenance) and low variable productions costs.
To izključuje, na primer, za vse prodane kWh, da imajo enak prispevek za pokrivanje stalnih stroškov, ne glede na proizvedeno količino, prodano posameznemu kupcu.
Hydroelectricity often has lower marginal costs than other electricity sources, in particular fossil fuels.
Vendar je zaradi odvisnosti od hidroloških razmer in nezmožnosti prilagajanja stalnih stroškov podjetje Hidroelectrica na splošno dolgoročno izpostavljeno tveganju neobvladljive nestabilnosti proizvodnje in, posledično, lastnih prihodkov.
This cost structure stems from the fact that the production of electricity based on hydropower does not typically have significant fuel costs or marginal costs [9].
Zato Hidroelectrica potrebuje dolgoročno stabilno proizvodnjo, da lahko iztrži stabilne in predvidljive prihodke.
It follows that policies for sales and the full recovery of costs above marginal costs of production across the range of output sold by hydropower producers are largely determined individually by each producer.
Do leta 2005, ko se je podpisovala večina pogodb v okviru preiskave, je strategija podjetja Hidroelectrica vključevala posodobitev in gradnjo novih zmogljivosti hidroelektrarne v višini 1,6 GW.
Beyond the basic rule that full costs should be recovered in the long term for hydro power (or other power) generation, there are no prescriptive or normative economic rules for optimal price determination based solely on the costs for specific segments of buyers in the short to medium term.
Skupni znesek naložb je bil ocenjen na 5,9 milijarde EUR v obdobju 2005–2025.
This rules out, for instance, all kWh sold necessarily having to have the same contribution to full recovery of fixed costs, irrespective of the output sold to each buyer.
Za program modernizacije je potrebnih 800 milijonov EUR zunanjega financiranja.
However, due to its dependency on the level of hydrology and its inability to adjust its fixed cost base, Hidroelectrica is, generally speaking, exposed in the long run to a degree of risk due to uncontrollable volatility of its output and, consequently, of its revenues.
Domnevni upravičenci
Hidroelectrica thus requires a stable output for its production in the long term in order to yield stable and predictable revenues.
Stranke, s katerimi je podjetje Hidroelectrica sklenilo pogodbe, ki so predmet preiskave, so bile:
The total investment was estimated at EUR 5,9 billion in the period 2005-2025.
EHOL Distribution je bila prodana podjetju Alpiq in preimenovana v Alpiq RomEnergie; Alpiq RomIndustries, prej SC Buzmann Industries SRL, oba v lasti zasebnega švicarskega operaterja Alpiq, ki je bil ustanovljen z združitvijo podjetij Aare-Tessin Ltd. for Electricity in EnergieOuest Suisse leta 2008 in deluje predvsem v jugovzhodni Evropi; EFT, hčerinska družba skupine EFT Group s sedežem na Cipru, ki je dejavna predvsem v balkanski regiji; Electrica, ponudnik storitev na področju električne energije upravičenim manjšim strankam ter svojim lastnim hčerinskim družbam, ki so dejavne v Romuniji; Electromagnetica, ponudnik proizvodov in storitev osvetljave ter dobavitelj električne energije s sedežem v Romuniji; Energy Holding, dobavitelj energije v zasebni lasti, ki je dejaven v Romuniji in v jugovzhodni Evropi; EURO-PEC, trgovec z železnimi in jeklenimi proizvodi za gradbeništvo ter industrijske in pomorske konstrukcije ter dobavitelj električne energije, ki deluje v jugovzhodni Evropi; in Luxten-Lighting, proizvajalec svetilnih naprav in dobavitelj električne energije;
The modernisation programme required EUR 800 million of external financing.
dva proizvajalca elektrod: Electrocarbon, delniška družba, ki kotira na borzi, proizvajalec grafitnih elektrod, žganega petrola koksa, paste Soderberg in ogljikovih blokov za plavže, in Elsid, ki je bil ustanovljen leta 1984 za proizvodnjo grafitnih elektrod za metalurško industrijo;
Hidroelectrica began insolvency proceedings on 26 June 2012 [10], and these ended on 26 June 2013 [11].
ArcelorMittal, hčerinska družba večnacionalne skupine, ki deluje pod istim imenom in je vodilni svetovni proizvajalec jekla.
As of 25 February 2014, Hidroelectrica again began insolvency proceedings.
ArcelorMittal proizvaja toplo in hladno valjane tuljave, galvanizirane tuljave, lužene in oljene tuljave ter plošče.
According to the Insolvency Report drawn up by the receiver, Hidroelectrica's insolvency was triggered by several factors, namely the obligation to sell a sizeable part of its production on the regulated market at prices below production cost, the obligation to buy large quantities of electricity from more expensive State-owned Romanian electricity producers (quantities that were then re-sold at lower prices), the portfolio of sale contracts, over-investment, bad management and inflated labour costs — all of which led to Hidroelectrica's not being able to pay its debts to its creditors [12].
Podjetje ArcelorMittal je največji romunski proizvajalec jekla in drugi največji industrijski porabnik električne energije v Romuniji, z letno porabo električne energije, ki presega 1,7 TWh;
The alleged beneficiaries
Alro, hčerinsko podjetje Vimetco NL, krovno podjetje v ruski lasti s sedežem na Nizozemskem.
The clients with which Hidroelectrica entered into the contracts under investigation were:
Z letno porabo električne energije, ki presega 3 TWh/leto v neprekinjeni dobavi (24 ur na dan), je podjetje Alro največji industrijski porabnik električne energije v Romuniji.
eight electricity traders: Alpiq RomEnergie, previously SC EHOL Distribution, the legal successor to Energy Holding.
Pogodbe
EHOL Distribution was sold to Alpiq and renamed Alpiq RomEnergie; Alpiq RomIndustries, previously SC Buzmann Industries SRL, both owned by the private Swiss operator Alpiq, which was created by the merger of Aare-Tessin Ltd for Electricity and EnergieOuest Suisse in 2008 and which is active mainly in south-east Europe; EFT, a subsidiary of the Cyprus-based EFT Group, which is active mainly in the Balkan region; Electrica, a provider of electricity services to both eligible retail clients and its own subsidiary companies, active in Romania; Electromagnetica, a provider of lighting products and services and electricity trader based in Romania; Energy Holding, a privately owned energy supplier which is active in Romania and also in south-east Europe; Euro-Pec, a trader in iron and steel products for civil, industrial and naval constructions and electricity trader active in south-east Europe; and Luxten-Lighting, a producer of lighting products and electricity trader,
Podjetje Hidroelectrica je sklenilo 14 pogodb za dobavo električne energije domnevnim upravičencem, in sicer eno pogodbo z vsakim od osmih dobaviteljev električne energije, razen podjetij Electrica [13], Electrocarbon, Elsid in Alro ter dve enoletni pogodbi s podjetjem ArcelorMittal.
two electrode producers: Electrocarbon, a publicly listed company manufacturing graphite electrodes, calcined petroleum coke, Soderberg paste, and carbon blocks for blast furnaces; and Elsid, which was set up in 1984 to produce graphite electrodes for the metallurgical industry,
Glavne značilnosti teh pogodb so podrobno opisane v uvodnih izjavah od 19 do 23 spodaj.
ArcelorMittal, a subsidiary of the multinational group active under the same name, which is the leading steel producer worldwide.
Za celovitejše opise in dodatne podrobnosti se za vsak primer navaja sklic na odločitve o sprožitvi postopka in na Prilogo I k tej odločbi.
ArcelorMittal produces hot rolled and cold rolled coils, galvanised coils, pickled and oiled coils, and plates.
Datum podpisa pogodb: Devet pogodb je bilo veljavnih že leta 2007, tj. v času pristopa Romunije k EU, in pet pogodb je bilo podpisanih po pristopu Romunije k EU [14].
ArcelorMittal is Romania's largest steel producer and the second largest industrial consumer of electricity in Romania, with an annual consumption of electricity exceeding 1,7 TWh,
Trajanje pogodb: Večina pogodb je bila podpisana za daljša obdobja, od pet do deset let, tj. pet pogodb je bilo sklenjenih za začetno obdobje desetih let [15], dve pogodbi sta bili sklenjeni za začetno obdobje sedmih let [16] in tri pogodbe so bile sklenjene za začetno obdobje petih let [17], od katerih sta bili dve podaljšani za nadaljnje obdobje petih let v letu 2004 [18]; preostale štiri pogodbe so bile sklenjene za obdobje enega leta [19] ali manj [20].
Alro, a subsidiary of Vimetco NL, a Russian-owned holding company with its headquarters in the Netherlands.
Trenutno stanje pogodb: Samo pogodbe s podjetjem Alro še vedno veljajo.
With an annual consumption of electricity exceeding 3 TWh/year in continuum band (24 hours per day), Alro is the largest industrial consumer of electricity in Romania.
Vse druge pogodbe: (i) je odpovedal stečajni upravitelj v stečajnem postopku podjetja Hidroelectrica v letu 2012; (ii) je odpovedala posamično ena izmed pogodbenih strank [21]; ali (iii) so se iztekle [22].
The contracts
Pogodbene cene: cene, določene v pogodbah v preiskavi, so bile ad hoc cene, dogovorjene z vsakim kupcem posebej, in niso bile določene na podlagi prej obstoječe omrežne tarife podjetja Hidroelectrica, npr. kot popust ali pribitek na veljavno tarifo ali kot tarifna stopnja.
Hidroelectrica concluded 14 contracts for the supply of electricity to the alleged beneficiaries, namely one contract with each of the eight electricity traders except for Electrica [13], Electrocarbon, Elsid and Alro, and two 1-year contracts with ArcelorMittal.
V pogodbi s podjetjem Luxten-Lighting (dobavitelj električne energije) je bila cena najprej določena v fiksnem znesku za nedoločeno obdobje.
The main characteristics of these contracts are described in detail in recitals 19 to 23, below.
Poznejša dopolnila za povišanje prvotne pogodbene cene so bila podpisana vsako leto.
For more comprehensive descriptions and further details, reference is made to the opening decisions in each case and to Annex I to this Decision.
V pogodbah s podjetjema Electrocarbon in Elsid so bile prvotne cene določene v fiksnem znesku samo za prvo leto izvajanja pogodbe.
Date of signature of the contracts: Nine contracts were already in force in 2007, i.e. at the time of Romania's accession to the EU, and five contracts were signed after Romania's accession to the EU [14].
1. septembra 2003 [23] je bila cena spremenjena na fiksni znesek, ki je enak za vsako leto do konca prvotnega pogodbenega obdobja.
Duration of the contracts: Most contracts were signed for long periods, of between 5 and 10 years, i.e.: five contracts were concluded for an initial period of 10 years [15]; two contracts were concluded for an initial period of 7 years [16]; and three contracts were concluded for an initial period of 5 years [17], two of which were extended for additional periods of 5 years in 2004 [18]; the four remaining contracts were concluded for periods of 1 year [19] or less [20].
Ponovno, pred letom 2007, sta pogodbeni stranki spremenili predhodno določeno ceno za naslednja leta pogodbenega obdobja na fiksni znesek, ki je enak za vsako leto do konca obdobja [24].
Current status of the contracts: Only the contract with Alro is still in force.
V praksi, kljub dejstvu, da je bila pogodbena cena vnaprej določena v fiksnem znesku, sta se pogodbeni stranki vsako leto ponovno pogajali in dogovorili cene, ki so bile višje od pogodbenih cen.
All the other contracts were either: (i) terminated by Hidroelectrica's receiver during the insolvency proceedings in 2012; (ii) terminated individually by one of the parties [21]; or (iii) they expired [22].
V pogodbah s podjetji Luxten-Lighting, Electrocarbon in Elsid je kupec imel možnost, da sam prekine pogodbo po predhodnem pisnem obvestilu 30 dni pred prenehanjem.
Contract prices applied: the prices set out in the contracts under investigation were ad hoc prices negotiated with each buyer and not determined by reference to a pre-existing tariff grid applied by Hidroelectrica, e.g. as a discount or mark-up on an applicable tariff or as a tariff step.
V primeru neizpolnitve te določbe je bil kupec zavezan plačati pogodbeni znesek, dokler podjetje Hidroelectrica ni podpisalo nove pogodbe o dobavi elektrike pod enakimi pogoji z novim kupcem [26].
In the contract with Luxten-Lighting (electricity trader), the price was initially set at a fixed amount for an undetermined period.
V pogodbah s podjetji Luxten-Lighting, Electrocarbon in Elsid je imelo podjetje Hidroelectrica možnost prekiniti pogodbo v naslednjih okoliščinah: (i) ponavljajoče se neplačevanje pogodbene cene za zakupljeno električno energijo in/ali ponavljajoče se neplačevanje kakršnih koli kazni, dolgovane na podlagi te pogodbe; (ii) če kupec izgubi svoj status upravičenega odjemalca v skladu z romunsko zakonodajo (ki je ključni element pogodbe), pri čemer je možna prekinitev pogodbe v petih delovnih dneh od dneva izgube statusa; (iii) zavrnitev kupca, da sklene novo pogodbo ali po potrebi spremeni obstoječo pogodbo v primeru spremenjenih gospodarskih in tehničnih okoliščin, pridobljenih na datum sklenitve pogodbe; v takem primeru je možna prekinitev s predhodnim obvestilom v roku 30 koledarskih dni; ter (iv) v drugih zadevah, ki jih določajo veljavni zakoni ali predpisi [27].
On 1 September 2003 [23], the price was adjusted to a fixed amount, identical for each of the years until the end of the initial contract period.
Regulirani trg z električno energijo
Again, before 2007, the parties readjusted the pre-set price for subsequent years until the end of the period of the contracts to a fixed amount identical for each year [24].
Transakcije na reguliranem trgu z električno energijo se izvajajo s kupoprodajnimi okvirnimi sporazumi, sklenjenimi med proizvajalci električne energije, ki delujejo na reguliranem trgu, vključno s podjetjem Hidroelectrica, in „dobavitelji zadnje instance“, ki zagotavljajo distribucijo električne energije končnemu uporabniku.
In practice, despite the fact that the contract price was predetermined at a fixed amount, the parties each year renegotiated, and agreed on, prices above the contract level.
Dobavitelji zadnje instance morajo dobaviti električno energijo upravičenim odjemalcem, ki so: (i) končni potrošniki, ki niso uveljavili svoje pravice do izbire dobavitelja in do nakupa električne energije na konkurenčnem trgu, ali (ii) gospodinjstva in poslovni odjemalci, ki imajo manj kot 50 zaposlenih ter letni promet, ki ne presega 10 milijonov EUR [28].
However, when in 2010 Electrocarbon and Elsid refused to accept the whole price increase requested by Hidroelectrica, and Hidroelectrica wished to unilaterally interrupt the supply of electricity, the matter was brought before the competent court, which did not accept Hidroelectrica's request to increase prices above the level set out in the contracts [25].
Upravičeni odjemalci kupujejo električno energijo po reguliranih tarifah.
Right of the parties to terminate the contract unilaterally:
Na reguliranih trgih romunski regulativni organ za energijo („ANRE“) določa cene in količine, ki naj bi jih dobavili proizvajalci električne energije predhodno vsako leto.
In the contracts with Luxten-Lighting, Electrocarbon and Elsid, the buyer had the opportunity to individually terminate the contract upon prior written notice given 30 days before termination.
V skladu z zahtevo ANRE je podjetje Hidroelectrica dolžno oskrbeti veleprodajno dobavo električne energije distributerjem maloprodajne oskrbe z električno energijo na reguliranem trgu.
In the event of this clause not being complied with, the buyer was obliged to pay the contractual amounts due until such time as Hidroelectrica signed a new electricity supply contract under equivalent conditions with a new buyer [26].
Veleprodajne cene, plačane podjetju Hidroelectrica, določi ANRE na podlagi upravičene ravni upravičenih stroškov in stopnje donosnosti.
In the contracts with Luxten-Lighting, Electrocarbon and Elsid, Hidroelectrica was also able to terminate the contract in the following circumstances: (i) repeated non-payment of the contract price for the electricity bought and/or repeated non-payment of any penalties due under the contract; (ii) loss by the buyer of its status as an eligible consumer in accordance with Romanian law (which is a key element for the contract), in which case termination was possible within 5 working days from the date when this status was lost; (iii) refusal of the buyer to conclude a new contract or to amend the existing contract in the event of a change in the economic and technical circumstances obtaining at the date of the contract's being entered into, in which case termination was possible with prior notice of 30 calendar days; as well as (iv) in other cases stipulated by any applicable laws or regulations [27].
Med letoma 2004 in 2010 so bile podjetju Hidroelectrica plačane naslednje veleprodajne cene (v RON/MWh) [29]:
The Romanian electricity market
Konkurenčni trg z električno energijo
Electricity trading in Romania in the period under consideration could take place on two markets: (i) the regulated electricity market on which electricity is traded on the basis of regulated tariffs and conditions; and (ii) the competitive electricity market on which electricity is traded freely, including through two main types of contract: bilateral contracts traded on the centralised market, and freely negotiated bilateral contracts, the so-called market for directly negotiated contracts.
Od leta 2005 je konkurenčni trg z električno energijo v Romuniji razdeljen na pet posebnih trgov:
The regulated electricity market
centralizirani trgi, ki jih upravlja OPCOM,
Transactions on the regulated electricity market are implemented through sale-purchase framework agreements concluded between the electricity producers active on the regulated market, including Hidroelectrica, and the ‘suppliers of last resort’, which ensure distribution of electricity to the end-user.
trg za neposredno dogovorjene pogodbe,
The suppliers of last resort have the obligation to supply electricity to eligible consumers who are either: (i) final consumers that did not exercise their right to choose their supplier and to buy electricity on the competitive market; or (ii) households and non-household customers that have fewer than 50 employees and a yearly turnover of below EUR 10 million [28].
trg za pomožne storitve,
The eligible consumers buy electricity on the basis of regulated tariffs.
izravnalni trg in
On the regulated markets, the Romanian Energy Regulatory Authority (‘ANRE’) sets out the prices and volumes to be delivered by the electricity producers ex ante every year.
izvozni trg.
In line with ANRE's request, Hidroelectrica is obliged to supply electricity wholesale to distributors that supply electricity retail on the regulated market.
Centralizirane trge upravlja OPCOM.
The wholesale prices paid to Hidroelectrica are set by ANRE on the basis of a justified level of eligible costs plus a rate of return.
OPCOM je bil ustanovljen leta 2001 v skladu s Sklepom vlade št. 627/2000 kot delniška družba in hčerinsko podjetje v popolni lasti podjetja Transelectrica, upravljavca prenosnega sistema.
Between 2004 and 2010, the wholesale prices paid to Hidroelectrica were as follows (RON/MWh) [29]:
Na osnovi dovoljenja, ki ga je podelil ANRE, je bil OPCOM opredeljen kot platforma za trgovanje na debelo z električno energijo v Romuniji.
The competitive electricity market
OPCOM je edina energetska borza v Romuniji, ki nudi okvir za trgovanje z električno energijo in ima vlogo spodbujevalca.
Since 2005, Romania's competitive electricity market has been divided into five specific markets, i.e.:
Na trgu OPCOM je pet vrst tržnih segmentov: (i) trg za dan vnaprej; (ii) trg znotraj dneva, ki ga upravlja OPCOM šele od julija 2011, (iii) centralizirana dvostranska trga oziroma centraliziran trg za dvostranske pogodbe z javno dražbo („OPCOM-PCCB“) in centraliziran trg za dvostranske pogodbe z nenehnimi pogajanji („PCCB-NC“); (iv) centraliziran trg za zelene certifikate in (v) trgovalna platforma za potrdila za emisije toplogrednih plinov.
the centralised markets administered by OPCOM,
Zeleni certifikati in certifikati za emisije toplogrednih plinov ne vključujejo neposredno trgovanja z električno energijo in zato niso opisani spodaj.
the market for directly negotiated contracts,
Transakcije na trgu OPCOM so se začele leta 2005, in sicer zgolj na trgih za dan vnaprej in trgih OPCOM-PCCB.
the ancillary services market,
V času pristopa Romunije k Evropski uniji leta 2007 se je z električno energijo trgovalo večinoma na reguliranem trgu z električno energijo (približno 29 TWh ali približno 55 % končnega povpraševanja).
the balancing market, and
Na konkurenčnem trgu z električno energijo se je z električno energijo trgovalo: (i) na trgu OPCOM-PCCB in (ii) na trgu za dan vnaprej, oba upravlja OPCOM; nato (iii) na podlagi neposredno sklenjenih pogodb, pogosto za dolgo obdobje, tako veleprodajnih kot maloprodajnih, (iv) na izravnalnem trgu, na katerem je prenosno omrežje edini kupec, in nazadnje (v) na izvoznih trgih (3,3 TWh v letu 2007).
the export market.
Med letoma 2007 in 2010 je bila prodaja električne energije na teh nereguliranih trgih v Romuniji naslednja [30]:
The centralised markets are administered by OPCOM.
Povprečje 2007–2010
OPCOM was set up in 2001, pursuant to Government Decision No 627/2000, as a joint stock company and wholly-owned subsidiary of Transelectrica, the transmission system operator.
Proizvodnja električne energije – skupaj
By virtue of the licence granted by ANRE, OPCOM was designated as a platform for the wholesale trading of electricity in Romania.
Izravnalni trg – skupaj
OPCOM is the only power exchange in Romania offering a framework for electricity trading and having a facilitator role.
Trg za dan vnaprej – skupaj
There are five big types of market segment on OPCOM: (i) the day-ahead market; (ii) the intra-day market, which has been administered by OPCOM only as of July 2011, (iii) the centralised bilateral markets, i.e. the centralised market for bilateral contracts through public auction (‘OPCOM-PCCB’) and the centralised market for bilateral contracts through continuous negotiation (‘PCCB-NC’); (iv) the centralised market for green certificates, and (v) the trading platform for greenhouse gas emission certificates.
OPCOM PCCB – skupaj
Green certificates and greenhouse gas emission certificates do not directly involve the trading of electricity and, therefore, are not described below.
Prodaja podjetja Hidroelectrica po tržnih segmentih
Transactions on OPCOM started only in 2005 and only on the day-ahead and OPCOM-PCCB markets.
Z letnim obsegom prodaje v višini 18,2 TWh in povprečnim tržnim deležem 30,2 % v obdobju 2007–2010 je bilo podjetje Hidroelectrica (in še vedno je) glavni proizvajalec električne energije v Romuniji.
At the time of Romania's accession to the EU in 2007, electricity was traded mainly on the regulated electricity market (approximately 29 TWh or about 55 % of final demand).
Od leta 2003, v skladu s postopnim odpiranjem trga z električno energijo kupcem s pravico do izbire dobavitelja, podjetje Hidroelectrica ustvarja prodajo pretežno z neposredno dogovorjenimi dvostranskimi pogodbami.
On the competitive electricity market, electricity was traded: (i) on OPCOM-PCCB, and (ii) on the day-ahead market, both administered by OPCOM; then (iii) under directly negotiated contracts, often of long duration, both wholesale and retail, (iv) on the balancing market, on which the transmission system is the sole buyer, and finally (v) on the export market (3,3 TWh in 2007).
Taka prodaja je leta 2007 predstavljala skoraj dve tretjini celotne prodaje podjetja Hidroelectrica.
Between 2007 and 2010, sales of electricity on these non-regulated markets in Romania were as follows [30]:
Kot je prikazano v spodnji preglednici, je v obdobju po pristopu Romunije k EU delež prodaje podjetja Hidroelectrica od celotne prodaje med letoma 2007 in 2010 ostal relativno stabilen in je znašal 19 % na reguliranem segmentu trga, prodaja drugim proizvajalcem električne energije pa je znašala približno 1 % prodaje.