Transelectrica posted a net profit of 142 million lei in the first six months of 2016, down by about 32.6% compared to last year (210 million lei). The company representatives explained in the report sent to the stock exchange, that the decresead results were caused mainly by the reduced transport tariffs (about 12%), even amid the domestic electricity consumption that increased slightly (0.6%).

The net exports decreased sharply compared to 2015, from 3.1 to 1.6 TWh (minus 48.8%), which contributed to a decrease by 5.4% of revenues (1.35 billion lei, the 1.42 billion lei).

The receivables to be collected are higher than the quarterly net profit

“On June 30th, 2016, Transelectrica recorded receivables to be collected in the amount of 202.9 million lei represented by invoices related to the bonus type support scheme to promote the high efficiency cogeneration”, reads the official statement.

Investments amounted to over 67 million lei in the first half, up 24% compared to the first six months of 2015. 37 contracts were signed for the investment objective, with a total value of 32 million lei, compared to 60 contracts in the total amount of 12.6 million lei concluded in the first half of 2015.