It said its operational profit was 25% higher compared with 2018, as total operational costs dropped 13%, compensating the 12% drop in operational revenues.
In the main area of basic activities (transmission and SEN dispatching), operational revenues grew 3%, to RON1.22 billion but increased average prices of electricity procurement to cover its own technological consumption in the transmission grid and to the impact of tax decree 114 led to a 2% drop in EBITDA, to RON429 million.
“2019 was a difficult year characterized by high costs of transmission system operation, especially the costs for electricity procurement to compensate technical grid losses (OTC) significantly higher by 12%, while in physical terms technical losses were smaller compared to last year (2.27% technical losses in 2019 compared with 2.47% in 2018),” the company noted in its preliminary earnings report.
Net domestic consumption was 1% lower on the year in 2019, at 57.5 TWh, while exports dropped 25%, to 4 TWh. Domestic electricity production dropped 8% in 2019, to 56 TWh.
Transelectrica invested RON242 million in 2019, 42% more than in 2018.