According to the preliminary consolidated results published by the Electrica group, the company Distribuție Energie Electrică Romania (DEER) realized and commissioned investments of 777 million lei last year. These represent 101% of the annual value of the planned commissioning program for 2023.

DEER’s revenues increased by 29.9%, to 4.4 billion lei, compared to 3.3 billion in 2022. The increase comes from the effect generated by the increase in revenues recognized based on the stage of execution of construction works and as a result of the increase in tariffs of distribution. At the same time, the volumes of distributed electricity decreased, according to Transilvania Business.

“DEER manages, for the second consecutive year, to perform operationally. We are proud that, through the extraordinary efforts we made, as a team, we managed to overcome the difficult situations we faced, promoting efficient and healthy management, with a focus on results. We had an ambitious investment plan for 2023, which we met and even exceeded.

We have undertaken and continue to make investments for the 18 counties we serve, of more than 100 million euros annually. These represent own sources, from the distribution tariffs, but also important funding from other sources for the modernization of the networks and their transformation into smart networks. We are champions in accessing European funds.

Up to now, we have signed 13 financing contracts, worth €333 million, of which €259 million is non-refundable value, which we invest in networks. The increased performance of our company is due to a motivated, dedicated team of professionals with a vision for a sustainable future”, said the general director of DEER, Mihaela Suciu.

The Electrica Group had, last year, operating revenues of 13.3 billion lei, down from 13.8 billion, instead net profit rose from 558 to 620 million lei, according to its financial report for 2023 sent Bucharest Stock Exchange.