Enel Romania – profit in 2019 significantly lower, SEE Energy News
Enel Romania recorded a net profit decrease of 42.5 %, before the payment of interest and taxes, of 54 million euros, which is a compared to the previous year, mainly as a result of the increase of the losses recorded in the supply segment of electricity and of a lower profit obtained from the distribution activity.
Thus, the losses of the retail segment of Enel Romania increased from 2 million euros in 2018, to 14 million euros in 2019, and the profit of the distribution activity decreased to 13 million euros in 2019, from 54 million in the previous year. The activity of renewable energy production has evolved positively, reaching a net profit of 49 million euros in 2019, from 40 million euros in the previous year.
The losses in Enel’s supply operations come from the decrease of sales by 0.6 TWh, but have also been triggered by the effect of the price control applied by the energy regulator ANRE following the adoption of the controversial emergency ordinance 114/2018.
Enel has been active on the Romanian market since 2005, with operations in electricity distribution and supply as well as renewable energy generation. Suppliers Enel Energie and Enel Energie Muntenia serve about 3.1 million customers in Romania. The group also controls electricity distribution networks in Romania’s Muntenia, Banat and Dobrogea regions, and large wind farms in Dobrogea.