Romania: Profit highly rose at Transelectrica in first half of 2020

, SEE Energy News

Romanian electricity transmission system operator Transelectrica invested 25.5 million euros in its infrastructure in this period, up by an annual 44 %. The company plans to invest a total of 78 million euros in 2020. Transelectrica recorded a net profit in the amount of 24 million euros in the first half of 2020, which is almost four times higher compared to a profit of 6.2 million euros recorded in the same period last year.

The company’s revenues fell by 5 % year-on-year to 581 million lei the first half of 2020, mainly due to the 8 % decrease in revenues from transmission and other revenues on the energy market, following the decrease by 6 % of the amount of electricity delivered to consumers, a decrease not least due to the impact of the coronavirus pandemic, as well as the reduction of the transmission service average tariff approved by ANRE.

EBITDA decreased by 1 % year-on-year to 48.75 million euros in the first six months of the year.

In the first half of 2020, electricity production and consumption decreased by 12 % and 6.7 %, respectively. Cross-border exports decreased by an annual 7.5 %, while cross-border imports registered a 67.6 % annual rise in January-June 2020.