Electrica forecasts a 75% annual drop in net profit in 2009

The company plans to lay off 2,000 employees, approximately 11 percent of its personnel, in order to cut costs during the present crisis. 

Electrica is forecasting net profit of only RON 80 million (€22.2 mln ) in 2009, only one quarter of the profit forecast for 2008.

According to Corneliu Stan, General Manager of Electrica, a reduction of company activities leads to a national level drop in energy consumption, as well as a decline in the activity of providing electricity, which will make it impossible to forecast sales and estimate the acquisition and sale price of electricity.