Transgaz received building permit for gas pipeline connecting Black Sea to Hungary and Ukraine - Romania, 22 May 2018  |  Nuclearelectrica won litigation with FP on capital increase - Romania, 22 May 2018  |  Chinese CEFC defaults on bond payments - Romania, 22 May 2018  |  NIS to start appraisal drilling at Teremia 1000 in Q3 2018 - Romania, 22 May 2018  |  Steep increase of electricity prices on spot market - Romania, 22 May 2018  |  ELEM requests a 1.5 % decrease in electricity production price - Macedonia, 22 May 2018  |  TPP Maritsa 3 recorded lower profit in Q1 2018 - Bulgaria, 22 May 2018  |  Both electricity production and consumption in decline in 2018 - Bulgaria, 22 May 2018  |  CMEC interested in the construction of wind farms in FBiH - Bosnia and Herzegovina, 22 May 2018  |  Desulfurization facility at TPP Ugljevik to be installed by mid-2019 - Bosnia and Herzegovina, 22 May 2018  |  STAR refinery to be commissioned in October - Turkey, 21 May 2018  |  Government to speed up construction of gas link to Bulgaria - Serbia, 21 May 2018  |  Hidroelectrica’s 2017 net profit increased by 11 % - Romania, 21 May 2018  |  Gas imports increased by 14.2 % in Q1 2018 - Romania, 21 May 2018  |  EPCG and Ivicom signed MoU on the construction of Gvozd wind farm - Montenegro, 21 May 2018  |  Pljevlja coalmine recorded lower profit in Q1 2018 - Montenegro, 21 May 2018  |  Alteo Group recorded higher revenues in Q1 2018 - Hungary, 21 May 2018  |  HEP plans to invest 500 million euros in HPP Kosinj-Senj project - Croatia, 21 May 2018  |  ICGB launched tender for archeological study along IGB pipeline route - Region, 21 May 2018  |  Government plans to lower fuel tax - Turkey, 18 May 2018

Electrica recorded lower profit in H1 2017 – Romania, 15 August 2017

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.

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