Electrica plans investment of 1 bln euro in its electric power distribution system

Electrica will allocate about 1 billion euro for the modernization and refurbishment of its electric power distribution system, which will be executed within 2015 and 2018, stated Dumitru Federenciuc, Head of the Development Strategy Department within the company, according to Agerpres.

“As provided by the IPO prospectus, the funds allocated by Electrica for investments in the 2015-2018 period for modernizing and refurbishing the electric power distribution system are estimated at around 1 billion euro. The amount concerns all operators of distribution Electrica’s short-term strategy aims to streamline operations so as to reduce losses Also, we will focus on the integration of wind and solar energy producers. In the medium term, we will focus on systems related to a smart grid and on a distribution management system (...) In addition, we are looking at the management of renewable sources by setting up some virtual power plants”, explained Federenciuc during a conference on this topic, as reads the newswire.

He further stated that the investments will be directed primarily towards areas with frequent power outages where the power grid will be either completely refurbished or even replaced, hence the electric power infrastructure will be improved.

Electrica is the leading distributor and supplier of electricity in the domestic market. The group's core business segments are the supply and distribution of electricity which is the largest one in the domestic market both in terms of volume of electricity distributed to users and number of users.