Hidroelectrica forecasts lower business and profit

Hidroelectrica, the cheapest electricity producer in Romania, forecasts business worth 1.93 billion RON (567 million euros) for this year, down by 9% against the results forecast by the company for the end of 2007. “Our 2008 plan has been prudently put together, and considers an average hydrological year,” say company representatives. The company estimates a 30 million-RON (8.8 million-euro) gross profit, down 2.6 times against the results estimated for last year. Last year’s results are down from those estimated for 2007, after revenues of the electricity producer dropped by 10.5% last year, to 2.27 billion RON (667 million euros), compared with 2.53 billion RON (registered in 2006 following the drought.) Hidroelectrica covered 25% of national electricity consumption last year, with an output of 15.6 TWh (15.6 million MWh), 12.1% less than the 17.7 TWh produced in 2006. The overall installed capacity of Hidroelectrica power stations amounts to 6,325 MW, almost 40% of the total capacity of electricity producers in Romania.