The increase was approved through order of the president of Romania’s energy regulator ANRE, Transelectrica said in a statement sent to the Bucharest Stock Exchange.
Transelectrica’s net profit surged 48.8% to RON136.5 million (EUR30.8 million) in the first quarter of 2014, from RON91.75 million a year earlier. Total revenues increased to RON698.8 million in the first three months, from RON577.9 million in the year-ago period.
Transelectrica is 58.69%-owned by the state, through the government’s General Secretariat, while investment fund Fondul Proprietatea holds a 13.5% stake. The remaining shares are traded on the Bucharest stock exchange. (EUR1=RON4.3888)