The higher quantity of electricity produced by Hidroelectrica triggered increasing operating revenue, despite the negative impact of the legislation and the market conditions, Hidroelectrica said in a press statement.
This year, the company said it will pay RON150 million as special constructions tax.
In January-August period, Hidroelectrica produced 12.3 terawatt hours of electricity. The company recently revised its forecast on the 2014 electricity production to 17 terawatt hours, from 13.9 TWh initially estimated.
The company expects record earnings of over RON1 billion (EUR225 million) for the full year. Hidroelectrica, under insolvency, posted a gross profit of RON509 million in the first half of 2014, 5.8% higher than the RON481 million in the same period last year.
Hidroelectrica, the country’s largest power producer, was court-ordered into a second insolvency process in February this year, less than eight months after completing a one-year reorganization process.
The company has an installed production capacity of 6,400 MW, about one third of Romania’s total electricity production, and covers around 30% of the country’s electricity needs. (EUR1=RON4.4184)