Transelectrica, boost in profit and lower revenue since January

Romania’s national power grid company Transelectrica registers lower revenue on decline in the revenue got from the balancing market and in the amount of electricity supplied. As per the preliminary results, before audit, released by the state-owned company, the first nine months of the year brought a turnover of around RON1.68 billion, down 20% over the same period in 2012. Yet, the profit hit almost RON 131.6 billion, a huge increase, if looking at last year’s results that show a profit 12.5 times lower at the end of January – September period.

Transelectrica’s total expenses dropped by 24% to approximately RON1.5 billion, mostly due to much smaller expenses related to the balancing market, expenses that are less than half compared with last year. Also, declines are recorded in the power grid company’s debts and its asset that slightly fell by over 6%.

With a social capital unchanged from the 2012 report, Transelectrica registered a growth of almost 4.2% in its total capital, up to RON2.5 billion.

Transelectrica secures electricity transmission for its power producers clients: Oltenia Energy Complex, Electrica Supply, Enel Energy Muntenia, Ciga Energy, EON Energy Romania, Enel Energy, Hidroelectrica and Nuclearelectrica.