Transelectrica lost €65.9 mln in market value

The company's shares dropped yesterday by 9.21 percent to RON 33.50 (€9.82)/unit. Transelectrica, whose market value fell to €713.5 mln, announced a profit some five times lower than that registered in last year's same period, down to €9.88 mln, due to higher prices for acquiring energy decided by the Romanian Energy Regulatory Authority (ANRE).

An approximate 22 percent increase in spending to €516.39 mln (from the first nine months of 2006) while revenue soared by a mere 11 percent, to €534.36 mln, is the main cause for the plunge in profit. The company registered a 10 percent year-on-year increase in turnover, to €517.39 mln in the first three quarters in 2007, from €470.06 mln.