Transelectrica has concluded a contract worth 4.56 million lei without VAT with one of its subsidiaries – Society for Telecommunication and Information Technology Services in the Transmission Electric Network Teletrans – for the maintenance of the local metering system at Transelectrica power stations. As far as the performance guarantee of the contract is concerned, it is constituted under the law, for the value of 455,980 lei, representing 10% of the total value of the contract, excluding VAT, according to an announcement of Transelectrica.

As about the payment deadline, Transelectrica has to pay the price of the services on the basis of the invoice issued within 30 days from the date of the invoice registration to Teletrans, “subject to compliance with the contractual terms by the provider”, writes the announcement quoted by News.ro.

Transelectrica is the Transmission and System Operator in Romania, opeating 81 transformer power stations with a capacity of about 35,000 MVA and over 9,000 km of 110/220 kV, 400 kV and 750 kV overhead power lines, managed by means of eight transport branches.

Transelectrica recorded a net profit of 64.79 million lei in the first nine months of last year, more than three times lower than the net result in the same period of the previous year, of 213.33 million lei, due to the decrease in revenues from the power transmission service. Nevertheless, total revenues rose by more than 27% to 2.41 billion lei, from 1.89 billion lei at the end of September 2016.