„The increase of the operational revenues (532 milion RON in Q1 2024 compared to 499 milion RON in Q1 2023) has been mainly influenced by the increase in the average tariff approved by ANRE which led to an increase of the revenues from regulated tariff (+56 milion RON) in the context of increasing the electrical energy amount, higher revenues from OTC transactions (+15,7 milion RON), as well as recording some revenues from emergency energy assistance to neighboring in the amount of 3 milion RON and from OTC capitalization in amount of 7 milion RON (non – monetary income),” reads the company’s report.
In Q1 2024, the total amount of electrical energy charged for the services provided on the electricity market (13.23 TWh) has registered an increase by 1.7% compared to the same period of the year 2023 (the difference between the two periods of time being 0.22 TWh).
The revenues from interconnection have registered a decrease from 102 milion RON in Q1 2023 to 45 milion RON in 2024 corresponding to the level of use of availabilities of interconnection capacities by the traders on the electricity market. The interconnection capacity allocation market is fluctuating, the prices evolving based on the demand and necessity of the participants to the electricity market to purchase interconnection capacity.
The operational expenses (including depreciation) have increased by 7% (423 milion RON in Q1 2024 to 395 milion RON Q1 2023), when the costs to purchase electrical energy to cover own technological consumption were in the amount of 143 milion RON, lower by 3% (-4 milion RON) compared to Q1 2023, mainly as a result of the provisions of G.E.O. 153/2022.
Transelectrica has purchased electrical energy to cover 75% of the quantity related to the forecast of OTC validated through the Mechanism of centralized purchase of electricity (MACEE) at a regulated purchase price, and the average price of purchased electrical energy on day – ahead market between January –March 2024 has been significantly lower than the price from the similar period of the year 2023.
The zero-profit segment has registered a positive result in Q1 2024 in the amount of 18 milion RON, rising by +27 milion RON compared to the negative result in Q1 2023. The specific regulatory framework for zero – profit activities contains regularization mechanisms that ensure the compensation of the revenue surpluses/deficit compared to the level of expenses necessary to carry on those activities.
The investment expenses in Q1 2024 were in the amount of 88.42 milion RON, by 49% higher than the investment expenses from Q1 2023 (59.30 milion RON). In Q1 2024 an increase by 2% of the internal net consumption and a decrease by 1% of the net energy production were recorded.
In January 2024 the electrical energy consumption at SEN level has recorded an increase by almost 5%, the other two months recording a decrease of it, February (ca. 0.38%) and namely March (ca. 1.55%).
In all the first quarter of 2024 the OTC of PTN decreased by 7% compared to the same period of 2023, mainly due to the favorable physical flows on the interconnection lines on the borders with Ukraine, Hungary and Bulgaria and favorable weather conditions in the first two months, characterized by lower amounts of precipitation, which determined the reduction of corona losses.
Transelectrica has a RON2.1 billion capitalization. Its shares have declined by 2.99% since the start of the year amid RON62 million worth of deals.
(English version by Catalina Apostoiu)