According to the revenue and expenditure budget published in the Official Gazette, Hidroelectrica has forecast a gross profit of approximately 4.4 billion lei and a net profit of 3.66 billion lei for 2023.

The company’s total revenues are set at 11.63 billion lei and expenses at 7.17 billion lei, operating income is expected at 11.357 billion and operating expenses at 7.13 billion lei.

For investments, Hidroelectrica has foreseen expenses in the amount of 994.611 million lei.

Hidroelectrica is a leader in the production of electricity and the main provider of technological services necessary for the National Energy System, being a vital company for a strategic sector with implications for national security.

In an average hydrological year, Hidroelectrica provides 30% of the total national electricity production.

The company’s shareholders are the Romanian state through the Ministry of Energy with 80.06% of shares and Fondul Proprietatea with 19.94%.

Last month, ANRE fined Hidroelectrica 400,000 lei, double the maximum amount provided by law.

“In the context of numerous reports and complaints received regarding the commercial behavior of the electricity supplier, SPEEH Hidroelectrica SA, we ordered a large-scale control action at the beginning of the year at the supplier concerned,” ANRE said.

Among other things, the company was sanctioned for “failure to issue bills for the volumes of electricity supplied to 482,638 end consumers in the portfolio, for each settlement period and within the terms stipulated in the electricity supply contracts concluded with them.”

Also last month, the Bucharest Court of Appeal confirmed the decision of the Bucharest Court of April 2022, according to which the selection procedure of the current Hidroelectrica Directorate is declared completely invalid.

The rejection of Hidroelectrica’s appeal reaffirms the fact that the entire process of hiring and appointing 5 members of Hidroelectrica’s Directorate, a majority of the company controlled by the Romanian state through the Ministry of Energy, was carried out in violation of the law.