Acasă » Electricity » DEER completed investments worth 70 mln. lei in Q1, above the budgeted level

DEER completed investments worth 70 mln. lei in Q1, above the budgeted level

17 May 2024

Distribuție Energie Electrică Romania (DEER), a member company of the Electrica Group, made investments of 70.3 million lei in the first quarter (Q1), representing 102.1% of the estimated value, according to the financial results communicated by the Electrica Group.

“Investments continue to be a priority at the level of the entire Group, with a strong focus on the distribution area, reflected by the 7.7% increase in the value of completed works. These investments are essential both for the modernization and development of the infrastructure we manage and for ensuring high-quality services for our customers, as well as supporting the transition to more and more sustainable energy sources,” said Alexandru Chiriță, CEO of Electrica.

According to Mihaela Suciu, general director of DEER, increasing security and accelerating the digitization process of distribution networks is one of the main pillars of the Electrica group’s strategy, a priority for DEER.

“We are focused on investments, we have accelerated the pace of their realization in order to fulfill and even exceed the assumed plan. We are working on the development of intelligent networks and on increasing their flexibility to respond to the needs of prosumers and to integrate electric vehicles. At the same time, we are concerned with optimizing investment financing mechanisms, by using both our own sources and European funds. We have undertaken and continue to make investments for the 18 counties we serve, of 100 million euros annually,” said Mihaela Suciu.

She mentioned that, until now, investment funds of 333 million euros have been accessed, of which non-refundable funds of 280 million euros.

“The performance of the distribution segment is appreciated by Electrica administrators, in the quarterly report, DEER contributing significantly to an increase in the group’s net profit in Q1 2024, in the context of the decrease in electricity costs to cover CPT, as a result of the implementation of the mechanism of MACEE centralized purchase,” DEER officials say.

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