Romania: Hidroelectrica increased 2014 profit due to higher sales and cost control measures

, SEE Energy News

Hidroelectrica’s 2014 profit rose by 33% compared to 2013 and was three times higher than the one recorded in 2010.

Romanian hydropower producer Hidroelectrica posted a preliminary gross profit of 1.2 billion lei 267 million euro in 2014, in line with its target, the company stated for Serbia Energy.

Turnover was 7% up to 3.3 billion lei in 2014.The good results came on the back of higher sales and strict cost-control measures. Hidroelectrica produced more than 18.2 terrawatt-hours (TWh) of electricity in 2014, above its 17.5 TWh target.

State-controlled Hidroelectrica has been undergoing reorganisation since February 2014, after exiting insolvency proceedings in June 2013. It was first declared insolvent in June 2012. The company operates 219 hydropower plants with a combined installed capacity of 6,443 MW.

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