Romania’s state-controlled electricity transporter Transelectrica (TEL) made a net profit of RON 305 million (EUR 68.6 million) in the first nine months of this year, up by 0.6% (in RON) compared to the same period of 2014.

The company’s revenues went up by 13.4%, to almost EUR 500 million, as Romania’s net electricity production went up by 3% and the net internal consumption increased by 4.2% in the same period.

In the third quarter, Transelectrica’s revenues went up by almost a quarter (24.4%), to EUR 178 million while the net profit increased by 23%, to the equivalent of EUR 21 million.

The company managed to increase its revenues and profits despite the regulator’s decision to lower the electricity transport fees by some 7% starting July 1, 2015. Transelectrica is listed on the Bucharest Stock Exchange and has a market capitalization of EUR 454 million.

editor@romania-insider.com