Electrica, the largest distributor and supplier of electricity in the Romanian market, reported a net profit in the amount of just 1.75 million euros in the first half of 2017, which is 97.6 % lower compared to the same period last year, mostly due to high electricity prices on spot market.
According to the company’s financial report, the decline was generated by the significant adverse conditions in the first quarter and a very sluggish improvement in the second quarter of 2017. During January-March period, there was a substantial increase in the purchase price of energy, namely by 78 % on the day ahead market and by 38 % on the balancing market, compared to the same period of the previous year. In April-June period, the average purchase price of energy remained by about 30 % higher than in the same period of the previous year.
Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power and trading data, tenders)
Subscription fee: 800 EUR annually – company licensed