Business 3 min read By Arthur Ellington
Transelectrica Nearly Triples Net Profit to 611 Million Lei in Nine Months
The grid operator Transelectrica reported a net profit of 611 million lei in the first nine months of 2026, three times higher than in the same period of last year, driven by a tariff increase and revenues from interconnection capacity.
Transelectrica, the operator of the national electricity transmission system, reported a net profit of 611 million lei in the first nine months of 2026, almost three times more than in the same period of 2025, when the result had been 183 million lei. The increase was supported by higher prices for import-export capacity and an increase in the transmission tariff, which offset the decline in the volume of electricity transported.
The company's operating revenues reached 4.82 billion lei, up 16%. The largest contribution came from regulated-profit activities, which recorded a positive result of 551 million lei, 67.5% above the previous level. An important factor was the tariff set by the National Energy Regulatory Authority (ANRE), increased by 8% from 1 January 2026. At the same time, revenues from the allocation of interconnection capacity rose by 71%, to 403 million lei, a segment that directly reflects demand for transferring energy across the country's borders.
Zero-profit activities, whose result is fully recovered through the tariff, moved from a loss of 156 million lei to a positive result of 111 million lei. The company shows that system operation expenses increased, which was reflected in higher costs, and that energy intended for the company's own technological consumption was more expensive on the day-ahead market (PZU). Thus, the increase in operating costs was absorbed in the final figures without cancelling the gains in the other segments.
Market developments were also influenced by problems at producers. Nuclearelectrica declared force majeure from 12 August due to the low level of the Danube, and the shutdown of units U1 and U2 at the Cernavodă Nuclear Power Plant led to the suspension of deliveries of 30 MW. The undelivered energy had to be covered on the PZU, where prices were higher. Volatility on this market was linked to drought and to the conflicts in Ukraine and Iran, factors that put pressure on energy procurement costs.
In terms of consumption, billed electricity amounted to 37.48 TWh, down 2.65%, while net domestic consumption reached 38.2 TWh, 3% less. Net domestic production rose by 1%, to 36.4 TWh, while net imports fell by 48%, to 1.85 TWh. Consumption declined in every month from February to September 2026, and the data for September remain preliminary, meaning the final quarterly figures may differ.
Beyond the current results, the ex-post tariff corrections that ANRE may apply for subsequent years remain unknown. Such adjustments can retroactively modify regulated revenues, and their impact on future profitability cannot be assessed on the basis of the information available so far.
Source: profit.ro
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