Transelectrica doubles profit on higher electricity transport fees

Romanian electricity transport company Transelectrica Bucuresti (BVB ticker: TEL) upped its operating revenues by 16%, to some EUR 439 million in the first nine months of the year. Meanwhile, its profit more than doubled to some EUR 68 million, thanks to higher fees, according to the company’s financial report. The average tariff for transport was of RON 23.65 per MWh – or some EUR 5.37, slightly up from RON 21.5 per MWh during the same period of 2013. Transelectrica charged for the transport of 2% less energy in the first nine months, some 37.6 TWh. Transelectrica is listed on the Bucharest Stock Exchange where it has a capitalization of some EUR 480 million. The company is controlled by the Romanian state, which holds 58.7% of its shares. editor@romania-insider.com