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.