The most expensive year in the history of Romania’s energy is shaping up as the best year for Hidroelectrica, the state’s “pearl” in this strategic field.
Hidroelectrica has budgeted RON1.12 billion for this year, but is likely to end the year with RON 2.5-2.8 billion, in line with ZF estimates. The projected net result is double than last year’s and 2.5 times higher than the budgeted level amid production expectations of 17 TWh, up 16% from 2020.
In the first six months of 2021, the company hit RON3.2 billion turnover, 77.9% higher than in the year-earlier period, and net profit worth RON1.7 billion (EUR345 million), up 109.5% from the same period of last year.
For Nuclearelectrica, current estimates are pointing to record-high results as well. Thus, the company is likely to end 2021 with net profit of RON800 million (around EUR160 million), in line with ZF estimates.
The nuclear energy producer in the first six months of 2021 generated net profit of RON385 million (around EUR78 million), with net profit for the entire year expected to hit RON562 million (EUR115 million).
The Romanian state owns 80% in Hidroelectrica and 82% in Nuclearelectrica.
Thus, from Hidroelectrica, the State may cash, from the company’s 2021 profit, amounts ranging between EUR200 and 400 million, depending on the profit distribution ratio, while in the case of Nuclearelectrica, the amounts could range between EUR60 and 110 million, depending on the profit distribution ratio.
Should the state choose energy bill compensation as the main tool to protect consumers against price hikes, then, the profits of major energy producers may become the “sponsors” of such a decision.
(English version by Catalina Apostoiu)