Romania’s hydropower producer posted a record profit

Hidroelectrica achieved in the first eight months of the year a profit of RON 800mln and for the end of the year it estimates a profit of over RON 1bn. The result is achieved in conditions of a year with normal flows, not exceptional as in 2010, according to statements made for Economica.net by Remus Borza, head of the Supervisory Board of the state-owned company and its former official receiver. “We have these results in conditions in which we processed only 20% more water than in the same period last year. We are speaking of the largest profit ever recorded by Hidroelectrica. The previous record dates from 2010, year with a record production of over 17TWh, RON 280mln”, Borza stated. According to him, this year Hidroelectrica’s electricity production will reach 14TWh. If the forecasts on profit come true, Hidroelectrica will become one of the companies with the largest profits in Romania, competing with Romgaz for the title of the most profitable state-owned company. The Medias-based gas producer last year posted a profit of almost EUR 300mln.