Romania, Electrica Group approved a 150 million euros investment plan

, SEE Energy News

The Board of Directors of the Romanian electricity supplier and distributor Electrica Group approved a 150 million euros investment plan for 2022 and the revised version of the company’s 2019-2023 business strategy.

The revised version of Electrica’s business strategy focuses on the agile and digital transformation of the business, as well as on business development in complementary areas.

Electrica provides services to about 3.8 million consumers and has a national coverage area with a coverage of 18 (of 41) counties.

In 2021, its supply subsidiary Electrica Furnizare was the leader on the regulated market with a share of 18.4 %. In the competitive market segment, it had a share of 12.6 %.

Electrica recorded a net loss in the amount of 111.5 million euros at the group level in 2021, compared to a profit of 78 million euros in the previous year. The loss is mainly due to higher electricity purchase prices.

The revenues of the Electrica Group amounted to 1.45 billion euros in 2021, which is an increase of 10.4 % compared to the previous year. In the supply segment, revenues were higher by 15.1 %, in the context of the evolution of electricity sales prices on the retail market, the increase of the amount of energy supplied on the retail market by 1 %, but also the increase in revenues from green certificates.

In the distribution segment, revenues were 0.7 % lower, mainly due to the decrease in revenues re- lated to the construction services of electricity networks from concession agreements, negative impact offset by the increase in distribution tariffs and volumes of distributed electricity, by 5.7 %.