CYEB, with a name stemming from the phrase “cut your energy bill”, is a regional engineering and energy distribution company, with a presence in Romania since 2007.
Can you please introduce the CYEB group, then zooming in on your presence and vision for Romania?
CYEB as a group is headquartered in Hungary and was created in 2007, when the Romanian branch was also set up. As indicated by our name, we use our engineering expertise to help customers attain energy efficinecy and ultimately reduce their energy bills. For example we offer a range of solutions for industrial lighting that results in up to 30% reduction in energy consumption. A significant part of our work as one of the first players in this field has been raising awareness about the solutions available to people and the fact that it is in their own best advantage to integrate energy efficinecy into every day business practices.
That being said, the bulk of our activity is currently focused on energy distribution and supply. This segment is heavily regulated, but has many positive sides, for instance through the interdiction of bilateral agreements. Any healthy market must encourage trade though centralized markets, which is the most transparent way to trade resources, as well as electricity. We at CYEB offer flexibility to our customers, in an industry in which this is a rare qualtity to come by given the sheer size and bureaucracy of large suppliers.
What are the main challenges you are noticing in the energy business climate in Romania, and do you have any recommendations for overcoming them?
One element that is challenging is the volume and complexity of bureaucracy, with nearly a third of our resources allocated to administrative tasks, for instance. Many of the interactions with entities such as ANRE, Transgaz or Transelectrica feel redundant and repetitive and I believe there must be better ways to streamline their channels and functionality. Additionally, small companies face difficulties of scale and we feel there ought to be some positive discrimination to better allow us to develop.
What are the key milestones you wish to achieve for the next two to three years?
One priority we have is to grow our retail business, which is already on an upward trend. We are also considering opening up new avenues, such as gas trading at a national or even regional level, and last year we obtained a gas trading license in Hungary. Our plans are of course contingent on a stable and predictable regulatory and legislative environment, which we hope will improve in the coming years in Romania.
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