Transelectrica reported for the first-quarter a net profit of 99 million lei, down by 21.6% compared to the first three months of 2015, indicates the income statement published by state energy company.

Revenues decreased by 3.1%, to 755 million lei, after the “segment activities with allowed profit registered a decrease of revenues by 10.9% (348 million lei from 390 million lei in Q1 2015), driven by lower average tariffs approved by ANRE for the transport service, as of July 1st, 2015, while the electricity consumption has been relatively constant”, said the company representatives. In the first quarter, Transelectrica has transported 14 TWh.

The state company has received 22 million lei in the first quarter from the allocation of the interconnection capacity, show the results published. Income from interest rose by 18% in the first three months. However, the total operating expenses (including depreciation) incurred during the period January to March 2016 increased by 1.4% compared to the same period of the previous year, reaching 639 million lei.

Transelectrica managed to decrease the long-term debts by 6.4%, to 569 million lei, while short-term debts decreased by 25.55%. The end of March found Transelectrica at a market value of 2,155 billion lei. Of this amount, 58.68% is owned by the Romanian State.