Romania, Transelectrica recorded a net loss in the amount of 1.2 million euros in 2021

, SEE Energy News

Romanian electricity transmission system operator Transelectrica recorded a net loss in the amount of 1.2 million euros in 2021, compared to a net profit of some 29 million euros recorded in 2020.

According to the company, the result was mainly influenced by high interest rates and the exchange rate of the Romanian leu against the euro, the currency in which the company has contracted bank loans to finance investment programs.

The company’s total revenues rose by 12 % year- on-year to 272.5 million euros due to larger electricity volumes delivered to consumers and higher average transmission fees. On the other hand, total operating expenses increased by 29 % to 223 million euros in 2021. Transelectrica’s earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 29 % year-on-year to 48.6 million euros.

In 2021, Romania’s electricity generation rose by 6 %, while consumption also rose by 5 %. Electricity exports fell by an annual 5 %, while imports were 12 % lower compared to 2020.