Romania: Electrica plans 1,4 billion euro investments into electricity distribution

Electrica’s board has an investment plan of 1.4 billion euros from 2014 to 2018, mainly in the business of electricity distribution. Electricity distribution activity has a 33% contribution to Electrica’s revenues. In the first six months of this year Electrica distributed almost 8 TWh of electricity and supplied about 5 TWh to 3.57 million customers.

“Any delay in the implementation of the investment plan, amendments to it, or any budget increases may have a material impact on Electrica’s future investments and operations, on its financial position and prospects for development”, according to a report issued by Electrica for Bucharest Stock Exchange and forwarded to Serbia Energy SEE Desk.

Electrica recorded in the first six months revenues of 2.3 billion lei (516.8 million euros), down 12%, and reported a net profit of 197.1 million lei (44.1 million euros ), 6% smaller.

Electricity distribution activity has a 33% contribution to Electrica’s revenues. In the first six months of this year Electrica distributed almost 8 TWh of electricity and supplied about 5 TWh to 3.57 million customers.

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