Transelectrica sued the National Regulatory Authority for Energy (ANRE) for the decreasing of the regulated electricity transport tariff by an order in 2014, which lead to loses for the electricity carrier’s of RON 138 million, according to the report submitted with the occasion of publishing the financial results.
The representatives of Transelectrica show that on June 26, 2014, ANRE Order no. 51, published in the Official Gazette no. 474 / 27.06.2014, regarding the approval of the average tariff for the transport service, the tariff for the system service and the tariffs related to the transport service, practiced by Transelectrica.
The values taken into account in the calculation of the regulated profit rate (RRR) by ANRE, according to the Methodology for establishing the tariffs for the electricity transmission service, determined a RRR of 7.7 percent. According to Transelectrica, this rate of return should have been 9.87 percent.
“CNTEE Transelectrica SA considers that the application of the provisions of Article 51 of the Methodology by establishing the Beta parameter to 0.432 will cause financial loss to the company by decreasing profitability by an estimated RON 138.4 million, having a significant impact on the financial interests of the company,” the report said.
On February 9, 2016, the court admitted the proof of accounting expertise – the specialty of financial investment and other securities, extended the discussion of the evidence with the technical expertise – the electro-energetic specialty, after the administration of evidence with accounting expertise – the specialty of financial investments and other securities entities.
At the established time of Court appearing of March 25, 2016, April 22, 2016, June 10, 2016, and March 3, 2017, the court deferred the case in the absence of a technical expertise report. The deadline for completing the expertise was set for September 25, 2018.
Transelectrica, the transmission and electricity system operator, posted a net profit of RON 98.02 million for the first six months of this year, similar to the same period last year when it was RON 98.38 million, according to the mentioned report. At the same time, total revenues were down 29 percent, from RON 1.739 billion to RON 1.233 billion. Total expenditures were also 30 percent lower, from RON 1.610 billion to RON 1.121 billion.