Electrica estimates more than 1.1 billion euros in turnover in end-2009

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The state-owned Electrica, which is one of the most important players on the electricity supply and distribution market, estimates 4.8 billion lei in 2009 turnover (1.14 billion euros), that is a slump by 17 percent on 2008, and also foresees a higher level for next year, when an energy consumption recovery is expected.

‘For 2009, Electrica estimates 4.8 billion lei in turnover and a gross result of 0.3 billion lei (71.4 million euros)’, according to company representatives, as quoted by Ziarul financiar daily. The company’s gross profit saw a significant drop compared with last year, when Electrica benefited of the completion of the privatisation process at Muntenia South, a process brining 400 million euros to the company, from the Italian utilities group Enel.

Electrica says that investments stood at 300 million lei (71.4 million euros) in 2009, being injected mostly in the company’s distribution network. ‘To these investments there should be also added the money attracted from the new consumers we connected to our distribution networks’, the representatives of the company said, being quoted by the aforementioned paper.

Electrica also intends to start producing electric power in the next years, with the company currently carrying out several investment projects to achieve this aim, among which the wind parks. The representatives of the company revealed that the quantities of electricity sold January through September dropped 11 percent compared with the figure corresponding to the same interval last year.

The drop in energy consumption stood at some 9 percent up to now, while considering the overall market, on the background of the activity having been blocked in several sectors as a result of the economic crisis. ‘The company estimated higher sales in 2010, mainly based on the company’s orientation towards developing its portfolio through contracting more clients, and also towards increasing its market share’, say the representatives of the company, quoted by Ziarul financiar.

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