Romanian electricity transmission system operator Transelectrica recorded a net profit in the amount of 85 million euros in the first nine months of 2022, which is a fivefold increase compared to the same period last year.
The statement from the company said that the reasons for such sharp increase in net profit are higher electricity transmission fees and increased interconnection revenues, as well as significantly increased revenues in the balancing market.
In the first nine months of the year, Romania’s electricity consumption decreased due to the increase in primary fuel prices which was reflected in the final price of electricity, and due to warmer weather.
Transelectrica’s total revenues rose by 83 % year- on-year to 354 million euros in the January- September 2022 period, mainly due to the increase in interconnection revenues and the recording of revenues from the company’s own technological consumption capitalization. Total operating expenses increased by 57 % to 220 million euros, while earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 149 % year-on-year to 134 million euros.
Electricity production and consumption decreased by 7 % and 6 % year-on-year, respectively, in the first nine months of 2022. Cross-border exports rose by an annual 28 %, while cross-border import flows registered an increase of 30 %.
Transelectrica has planned 95 million euros in investments for 2022, of which it implemented 60.6 % during the January-September period.