The electricity supply, distribution and production group Electrica SA, where the largest shareholder is the Romanian state through the Ministry of Energy, with over 48% of shares, reported massive losses of over half a billion lei for 2021, according to the preliminary annual report, compared to a net profit of 387.5 million lei registered in 2020, according to Profit.ro.

Thus, last year, Electrica SA recorded a loss of 552.8 million lei, mainly due to the galloping price of electricity on the wholesale markets, which it could not transfer in the prices charged to final customers, including due to the legislation of their capping and offsetting of invoices.

The total revenues of the group advanced by more than 10%, to 7.17 billion lei, but the costs with the acquisition of electricity and natural gas increased significantly more, by almost 46%, to 5.69 billion lei. The expenses of Electrica SA with the construction of the electrical networks, based on the concession agreements of the energy distribution service, decreased by 28%, to 485.81 million lei.