Electrica Group turned to profit in H1 2023, posting a net result of 106 million RON, compared to a loss of 176 million RON in the year-ago period, as per the company's consolidated results released on last Friday.The group's EBITDA increased by 535 million RON to 636 million RON in the reporting period, mainly due to the operational performance of the distribution segment, to the increase in energy revenues generated by the roughly 20 percent year-over-year rise in distribution tariffs; this effect is somewhat offset by the decline of distributed amounts by 8 percent.The company's operating revenues stood at 6.74 billion RON, up 14 percent from the same period last year.The amount of distributed electricity was 8.28 TWh, down 7.9 percent year-over-year. Electrica's distribution arm Distributie Energie Electrica Romania - DEER serves approximately 3.9 million users in an area accounting for approximately 40 percent of the surface of Romania.The amount of electricity supplied on the retail market was 3.88 TWh, down 6.84 percent compared to H1 2022, against the general downward trend in electricity consumption, the company said in a release. Supplier Electrica Furnizare provides electricity for approximately 3.5 million consumption locations on the competitive market, as well as a universal and last resort supplier. According to the latest report of the National Energy Regulatory Authority from April this year, the company is one of Romania's leading suppliers, with a total market share of 17.79 percent and a 10.43 percent chunk of the competitive market.Electrica Group is a key player on Romania's energy distribution and supply market, as well as one of the most important providers of energy services. Electrica serves approximately 3.9 million users and its energy distribution coverage spans 18 counties in three geographical areas: North Transylvania, South Transylvania, North Muntenia; it also provides energy supply, maintenance and energy services all over the country.Since July 2014, Electrica is a company with mostly private capital, listed on the Bucharest and London stock exchanges.
More than 680 houses in Suceava country and 170 houses in Neamţ county were impacted in the flash floods that hit northeastern Romania at the end of last week. Forty-one houses were completely destroyed, Raed Arafat, the head of the Department for Emergency Situations (DSU), announced on Friday, August 1. Three people were killed in […]
Romanian justice minister Radu Marinescu said on Thursday, July 31, that harsher penalties are being considered for violence against women and domestic violence, including the criminalization of femicide. The minister said that Romania currently has legislation that is fairly adequate, in line with European standards, for combating violence, including domestic violence. He also said that […]
Via Transilvanica, the long-distance trail that crosses the country, will apply to be the first accredited long-distance route in Romania after the government issued the methodological norms regulating the hiking trails of national interest. Tășuleasa Social, the non-profit that developed the trail, called the recently issued norms "a huge step that transforms a bold idea into...
Former prime minister and Social Democratic leader Marcel Ciolacu stated that he does not rule out a candidacy for the presidency of the Buzău County Council, after rumors to that end. PSD Buzău president Romeo Lungu had previously told journalists that discussions are underway for the former prime minister to run for the Buzău County […]
The Balneo-Physiotherapy Clinic in the Călimănești resort town, southern Romania, will undergo rehabilitation with a EUR 10 million financing from the European Union, according to representatives of the Vâlcea County Council. The project implementation period will be 24 months from the completion of the tender for the execution of the works, which include, in addition […]
Bringo, the first personal shopper-based rapid grocery delivery service in Romania, handling over 4,000 daily orders in more than 35 cities, launches a loyalty program that turns shopping into a continuous reward experience. "Beyond functional benefits like discounts, free delivery, or double refunds for SGR packaging collected right at your doorstep, Bringo YOU offers a […]
