This special revenue, was set up for the part of the total OTC cost that was not covered by the transmission tariff.
Transelectrica’s total operating revenues decreased by 25% compared to the same period of the previous year (RON4.721 million on December 31, 2023 compared to RON6.286 million on December 31, 2022), due to the significant decrease in revenues from zero-profit activities (balancing market, system services).
Total operating expenses (including depreciation) at the end of 2023 decreased by 21% compared to the same period of the previous year (RON4.472 million in 2023 compared to RON5.692 million in 2022), mainly from zero-profit activities (balancing market) and expenses with the acquisition of electricity for own technological consumption.
Profit-allowed activities segment: on the main area of core activities (transmission and SEN dispatching) there was a 10% decrease in revenues (RON2.091 million in 2023 compared to RON2.319 million in 2022) mainly due to the reduction in revenues from OTC capitalization, concomitant with a 1.8 TWh decrease in the amount of electricity delivered to consumers (50.39 TWh in 2023 compared to 52.18 TWh in 2022) and revenues from interconnection capacity allocation. The decrease in revenues from interconnection (RON343 million in 2023 compared to RON399 million in 2022) is mainly due to the level of use of available interconnection capacity by traders on the electricity market during the period under review.
The costs with the acquisition of energy to cover OTC were RON517 million, significantly lower by 37% (-RON310 million) compared to 2022, mainly influenced by the provisions of Government Emergency Ordinance no.153/2022. Thus Transelectrica acquired electricity to cover about 75% of the quantity of the OTC forecast validated by the centralised electricity acquisition mechanism (MACEE), at a regulated acquisition price.
The measures taken at European level to make energy consumption more efficient, the replacement of Russian gas, the reduction in demand in the industrial area and the increase in the share of wind energy, in the context of an atypically warm winter, have led to a decrease in consumption as well as in the quantities traded on the short-term markets and in energy prices on these markets. Thus, the average price of energy acquired on the DAM in 2023 was 48 percent lower than in the same period in 2022, while remaining higher than in previous years.
The zero-profit segment recorded a negative result of RON140 million, down from the same period of last year. The regulatory framework specific to zero-profit activities contains regularization mechanisms that ensure the compensation of excess or deficit of revenues compared to the level of expenses necessary to carry out these activities.