Italian group Enel records pre-tax profit of EUR 266 mln in Romania

Italian energy group Enel recorded a pre-tax profit of EUR 266 million in Romania in the first nine months of this year, down 5.3% compared to the same period last year. Between January and September 2015 Enel recorded a pre-tax profit of EUR 281 million in Romania, according to the financial report of the Italian group. The profit from the electricity distribution dropped by 13.5% in the first nine months, to EUR 173 million. The earnings from the renewable energy sector decreased by 8.3% to EUR 55 million, as the electricity production dropped by 200 GWh to 854 GWh. On the retail segment, the profit on the local market rose by 73.7% to EUR 33 million. Enel operates the electricity distribution networks in Romania’s Banat, Dobrogea, and Southern Muntenia regions, including the capital Bucharest. The group also supplies electricity to clients in these areas as well as clients from other regions. Enel has been criticized in Romania for its practices. On Sunday, Bucharest mayor Gabriela Firea said that she threatened the company that it would “break the contract” as the company failed to intervene and repair a power outage in central Bucharest for more than four hours, reports local Agerpres. “It’s not normal that multinationals treat us like third-world people,” she said. editor@romania-insider.com