The Romanian energy regulator, ANRE, has approved a 1.5% increase in the average price for electricity transmission to 22.50 lei per megawatt hour (MWh), local power grid operator Transelectrica said on Monday.

The system service tariff will be lowered by 7.1% to 13.96 lei/MWh as of July 1, Transelectrica said in a statement filed with the Bucharest Stock Exchange.

The tariff for functional system services, which is a component of the system service tariff, will be cut by 18% to 1.42 lei per MWh.

Commenting on the move, Raiffeisen Bank said it will view it as neutral for the time being. “No other details were provided, such as the regulated rate of return for the third regulatory period or the regulated asset base. We were expecting a minor increase in transmission tariffs. Until we see the parameters agreed for the third regulatory period we see the news as neutral,” Raiffeisen Bank said in a note to investors.

The operational and technical management of the grid is one of Transelectrica’s main revenue-producing activities, along with electricity transmission services and market management services, provided through its subsidiary OPCOM.

Transelectrica is among the 10 most liquid stocks on the Bucharest bourse and is included in its blue-chip BET index. Its shares finished up 1.81% at 22.5 lei the trading session on Monday.

Acțiunile TEL au închis ședința de tranzacționare de luni în creștere cu 1,81%, la 22,5 lei pe titlu.