It said one of the main loss-incurring factors was a higher cost for electricity acquisition. The cost of electricity purchased increased by RON254 million, or 34.2%, to RON996.4 million in the first quarter of 2019, compared with RON742.5 million in the same period last year, mainly as a result of increased electricity prices.
Electrica’s operating result for the first quarter was a loss of RON47.1 million, compared with an operating profit of RON80.7 million in the same period last year, mainly due to the electricity prices recorded in 2019, the changed regulatory framework applicable for the distribution segment in 1Q 2019 and the impact of the regulated supply segment particularly in January and February 2019.
Investments in the distribution network in the first quarter amounted to RON138.3 million, up 14.4% on the year.