Romanian state-owned electricity transporter posts lower net profit in H1

Romania's state-controlled electricity transporter Transelectrica recorded a net profit of RON 98 million (EUR 21.4 million) in the first six months of this year, down 31% year-on-year. The lower profit came from the decrease in revenues from electricity transport. The transport tariffs dropped by 10% compared to the same period last year. The operating revenues rose by 29% in the first half of the year to RON 1.74 billion (EUR 380 million) whereas the operating expenses went up by 44% to RON 1.45 billion (EUR 317 million). Transelectrica, which has the monopoly in the transport of electricity in Romania, recorded a net profit of EUR 63.4 million last year, down 21% over 2015. The company manages 81 power stations in the country and 8,834 km of overhead high-voltage power lines. editor@romania-insider.com