Romania: In 2020 Transelectrica managed to double its profit

, SEE Energy News

Romanian electricity transmission system operator Transelectrica invested 48.5 million euros in its infrastructure in the first nine months, up by 44 % on the year. The company plans to invest 78.5 million euros in full year 2020. Transelectrica recorded a net profit in the amount of 31 million euros in the first nine months of 2020, compared to the profit of 15 million euros in the same period last year.

The company’s total revenues fell by 6.7 % year-on-year to 340 million euros, while total operational expenses decreased by 13.5 % to 300 million euros. EBITDA dropped slightly by 1 % to 47.5 million euros in the January-September 2020 period.

According to Transelectrica’s data, in the first nine months of 2020, Romania’s electricity production and consumption decreased by 7 % and 5 %, respectively. Cross-border export flows rose by an annual 2.7 %, while cross-border import flows registered a 27.7 % increase in the review period.