EnglishHidroelectrica expects to conclude 2006 with a profit of 100 million RON, despite the prolonged drought that is still persisting. The profit is obtained from energy sales on the open market and renegotiations of export contracts, according to Traian Oprea, CEO of the company.
For 2006, the company expects turnover of approximately 1,7 Billion RON, the equivalent of 453 million EUR, some100 million EUR higher than in 2005. Hidroelectrica swinged back into profit in 2005, with 91,1 million RON.
Following the drought in 2003, when the company posted loss of over 300 million RON, Hidroelectrica signed hydraulic risk contracts with Termoelectrica and Electrocentrale Bucuresti. The costs related to hydraulic risk were included in the income and expenses budget.
The company pays 229 RON/MWh to Electrocentrale Bucuresti and 290 RON/MWh to Termoelectrica. In January 2006, Hidroelectrica was delivering energy at 70,5 RON/MWh, but as of last summer, market regulator ANRE intervened, lowering the price to 49,3 RON/MWh, as the company"s profit had risen considerably. The energy supplied by Hidroelectrica to the regulated market is taken over by Electrica and delivered to captive consumers.
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