Romanian electricity transmission system operator Transelectrica reported a net profit of €83.5 million for the first nine months of 2024, marking an impressive 99% increase compared to the same period in 2023.
The company’s activities with allowed profit recorded a positive result of €86.4 million, an improvement over the €65 million achieved in 2023. This growth was driven by a 16% rise in operating revenues, which increased by €49.2 million, reaching a total of €354.4 million in the first nine months of 2024, compared to €304.6 million in the same period last year. The increase was primarily due to higher revenues from the regulated tariff, supported by a 2.3% rise in the amount of energy charged.
However, Transelectrica’s interconnection revenues saw a decline, dropping from €51.8 million in 2023 to €38.2 million in 2024. This decrease is attributed to lower utilization of interconnection capacity by electricity market traders, as the interconnection capacity allocation market remains volatile, with prices fluctuating based on demand and the needs of market participants.
Operating expenses, including amortization, rose by 12% to €269.7 million, up from €240.8 million in 2023. This increase was mainly driven by higher system operation costs, particularly energy purchases to cover technological consumption. These energy purchases amounted to €88.5 million, a 15% rise compared to last year.
Overall, Transelectrica’s strong financial performance in 2024 reflects the company’s ability to manage rising costs while benefiting from increased revenues, particularly in the regulated tariff segment. Despite challenges in interconnection revenues, the company remains a critical player in Romania’s electricity transmission sector.
