Romanian power producer Hidroelectrica doubles profit

Romania's largest electricity producer Hidroelectrica, which is still insolvent, recorded at the end of January this year a EUR 31.4 million gross profit, almost double year-on-year. The relatively high level of production and the continuing drop in operational costs led to this increase. Last month, Hidroelectrica produced and delivered 1,590 GWh, up 36% year-on-year and up 66% over January 2013. The turnover also increased to EUR 72.3 million, up 42% compared to January 2014 and up 69% over January 2013, according to company’s judicial administrator Remus Borza, cited by local Economica.net. Hidroelectrica has been under insolvency since June 2012. editor@romania-insider.com