Transelectrica posts a loss of some €30 mln in profit

Revenue in H1 2009 dropped 7.4 percent, to RON 1.27 billion (€302 mln), from RON 1.37 billion (€372 mln) in the first half of 2008, according to data transmitted to the Bucharest Stock Exchange. “Internal energy consumption­ drop­ped significantly, as is the case also with ­exports. That is the cause,” according to an explanation offered for Business ­Standard yesterday by Răzvan Purdilă, one of Transelectrica’s Managers. He added that if he were to take 12 August as a date of reference, energy consumption is 9.8 percent lower, production has dropped 11.8 percent, and exports fell 35 percent.

The company’s official indicated that the massive cut in expenses was not possible and will not be feasible in future, as this would endanger the safety of the energy system. “We do not want to effect savings worth €1 million now, only to be subject to damages worth one billion later,” added Purdilă.

He said that the company is preparing to take out another loan for investments, worth some €40 million, after having recently signed for a similar credit from Alpha Bank. “In 2009, we plan not to insist on an increase in tariffs,” added Purdilă.