Transelectrica’s net profit increased by 235% to RON 611 million in the first nine months of 2026, according to a report submitted to the Bucharest Stock Exchange (BVB).
The segment covering activities with permitted profit generated a positive result of RON 551 million in the first nine months, up RON 223 million (+67.5%) from RON 329 million in the same period of 2025. The improvement was driven by a RON 325 million increase in operating revenues, while operating expenses, including depreciation and amortisation, rose by only RON 102 million.
The increase in operating revenues, which reached RON 2,041 million as of September 30, 2026, compared with RON 1,716 million as of September 30, 2025, was mainly driven by non-recurring revenues, including RON 168 million from cross-border interconnection capacity allocation and RON 16 million from emergency assistance. Regulated tariff revenues also increased by RON 107 million, while revenues from CPT transactions on the balancing market decreased by RON 9.6 million.
Revenues from electricity transmission and other energy market activities rose by RON 302 million, from RON 1,666 million in the first nine months of 2025 to RON 1,968 million in the same period of 2026. This increase was mainly driven by the higher transmission service tariff approved by the Romanian Energy Regulatory Authority (ANRE), effective January 1, 2026. As a result, revenues from the regulated tariff increased by RON 107 million (+8%) compared with the corresponding period of the previous year.
Revenues from cross-border interconnection capacity allocation increased by RON 168 million in January-September 2026, reaching RON 403 million, compared with RON 235 million in the same period of 2025. This growth was influenced by the supply-and-demand-based pricing mechanism. Implicit allocations, which involve the simultaneous allocation of capacity and energy, are particularly sensitive to fluctuations in electricity prices on European power exchanges.
Operating expenses, including depreciation and amortisation, increased by 7%, to RON 1,489 million in the first nine months of 2026, from RON 1,387 million in the corresponding period of 2025. The increase was mainly driven by higher system operation costs.
Among operating expenses, the largest impact came from expenses related to own technological consumption (CPT). These amounted to RON 507 million in January-September 2026, up 27% (+RON 106 million) from RON 401 million in the same period of 2025.
The zero-profit activities segment also recorded a positive result, reaching RON 111 million, compared with a negative result of RON 156 million in the first nine months of 2025.
Under ANRE regulations, any surplus or deficit of revenues relative to recognised costs arising from system services and balancing capacity activities is to be offset through an ex-post tariff adjustment. ANRE will apply a corresponding negative or positive adjustment to tariffs in the years following the period in which the surplus or deficit was recorded.
Electricity consumption across Romania’s National Energy System (SEN) declined year-on-year in each month from January to September 2026, with monthly decreases ranging from 0.91% in March to 7.07% in July, except for January, when consumption increased by 6.29%. The company noted that September figures were preliminary at the time the report was prepared. Electricity delivered to consumers also decreased by 2.65%, equivalent to 1 TWh.
Overall, in the third quarter of 2026, own technological consumption (CPT) across the Electricity Transmission Network (RET) fell by 1.0% compared with the same period of 2025. The decrease was mainly attributable to lower electricity inflows into the transmission network and more favourable weather conditions, including lower rainfall, which reduced corona losses.
In August 2026, Transelectrica signed two financing agreements with the Ministry of Energy under the Modernisation Fund, worth more than RON 351 million in total. The agreements cover the investment projects “Optimising the Operation of Overhead Power Lines through the Expansion of the DigiTEL Smart Lines Online Monitoring System” and “Improving Voltage Regulation Quality at the Gutinaș Substation”.