Romanian power grid operator maintains profit despite lower transmission fees

State-owned Transelectrica, which operates Romania’s power grid, recorded a net profit of RON 98 million (EUR 21 million) in the first half of this year, similar to the one recorded in the first six months of last year. However, the company’s main activity, namely electricity transmission, yielded lower results due to a 10% cut in transmission fees decided by the energy regulator ANRE. The company’s revenues from transmission activities thus declined by 9%, to RON 560 million (EUR 120 million) and the operational profit – EBIT on this segment dropped by 39%, to RON 79 million (EUR 17 million). This was compensated, however, by a RON 33 mln operational profit from the so-called zero-profit activities, according to the company’s half-year report. Transelectrica also announced that it filed a lawsuit against the energy regulator ANRE, asking it to cancel or change a decision that would result in RON 138 mln losses for the company. editor@romania-insider.com