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March 2, 2021
BUSINESS

Hidroelectrica posts RON 144 M in profit for Q1

Hidroelectrica posted a profit of RON 144 M in the first quarter, the company informs. “The incomes and expenses budget of Hidroelectrica estimates for 2013 a record profit of RON 434 M for an output of just 13 TWh, much higher than the figure achieved in 2010, when the company made a profit of RON 292 M for an output of 20 TWh,” reads the release.

After a very draughty year 2012, which had as result a historic minimum of the output for Hidroelectrica, of just 11.8 TWh, the company had a strong comeback in the first months of 2013.

According to figures released by Transelectrica, the hydro energy producer had yesterday, April 17, a market share of 33 pc, more than the cumulated share held by the two thermal energy producers, namely Complexul Energetic Oltenia and Complexul Energetic Hunedoara (cumulated market share of 18.8 pc). Hidroelectrica also announced that, since the beginning of the year, it traded 4,100 4.100 GWh at an average price of 184 RON/MWh. “If we ignored the price of 125 RON/MWh, asked by Hidroelectrica for its energy in the regulated market for population and institutions, then the average price obtained by the company on the competition-driven market and the balancing market is 212 RON/MWh,” Hidroelectrica informs.On 31 March 2013, Hidroelectrica had 4,903, down from 5,239 when it filed for insolvency. The process of rethinking its personnel scheme will continue, with the purpose of optimising the production cost and guaranteeing the profit provided by the budget, against the background of lower consumption and, implicitly, the price of electricity.

The investment strategy of the company was finalised in Q1 2013. The same quarter also marked another record for Hidroelectrica: 103 companies from all over the world submitted the prequalifying documentation for upgrading the technology of the Dimitrie Leonida plant.

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