OMV Petrom, the Austrian energy group’s Romanian subsidiary, has successfully restored its 860-megawatt Brazi gas-fired power plant to the grid. The facility was taken offline unexpectedly last week due to an issue with its external water supply. Operations have recommenced, with the plant currently feeding 300 megawatts into Romania’s electricity network and working towards returning to full capacity.
Key Operational Details:
* The Brazi plant returned to service on December 5.
* The shutdown was triggered by maintenance work and low water levels at the state-operated Paltinu dam, which disrupted the plant’s cooling water supply.
* Output is currently at 300 MW, with a ramp-up to full capacity underway.
* OMV’s share price held steady at €47.70.
Swift Action Mitigates Grid Impact
Under normal operating conditions, the Brazi facility supplies up to 10% of Romania’s total electricity demand. Its sudden loss forced the country to rely temporarily on power imports. OMV Petrom’s operational team moved quickly to address the cooling water disruption. By Friday, the company had managed to restart one gas turbine and one steam turbine, operating in a combined-cycle mode. The gradual increase in output is bolstering Romania’s energy security by reducing its dependence on external sources.
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Strategic Importance of the Brazi Asset
The performance of OMV’s Romanian assets, including OMV Petrom—considered the largest energy producer in Southeastern Europe—is a crucial component of the wider group’s free cash flow. The Brazi plant is recognized as one of the region’s most efficient gas-powered facilities. A prolonged outage could have negatively affected the “Energy” segment’s financial results, especially given the current environment of volatile electricity prices.
This operational reliability supports OMV’s attractive dividend policy. Market analysts currently project a dividend yield ranging between 9% and 11%, with the final figure contingent on potential special dividends and the year-end share price.
Market Attention Shifts to Quarterly Performance
With the technical issue now resolved, investor focus is likely to return to broader market fundamentals. Key factors include fourth-quarter oil and gas prices and final production volumes. The brief interruption at Brazi is expected to have only a marginal effect on OMV’s Q4 output figures. From a technical analysis perspective, the €47.00 level is seen as a significant support zone for the share price, while €49.00 represents the next notable resistance point.
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