Hidroelectrica’s profit, close to RON 1 bn threshold after ten months

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Romanian state-controlled hydropower producer Hidroelectrica posted a gross profit of RON 970 million in the first ten months of this year, company’s trustee Remus Borza said on Tuesday.  At 9 months, the profit was RON 875 million and RON 725 million in H1.

However, the daily production of Hidroelectrica rarely exceeds 2,000 MW lately, during the hours with high consumption.

According to Borza, in the absence of water, the state owned-company started to make massive energy trading. “We bought cheap and sold expensive. If at end-October last year we had sold 111 GW of energy, now we count for 900 GW,” Borza says.

In the first ten months of 2015, Hidroelectrica produced about 13 TWh.

Until year-end, Borza estimates achieving a gross profit of RON 1-1.2 billion and about 14.5 TWh of produced energy. Last year, its output reached 18.4 TWh. By this date, Hidroelectrica has contracted 14 TWh of energy.

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