In the first semester of the current year (H1) 2026, at the Electrica Group level, EBITDA recorded an increase of 7.7%, respectively of 76.9 million RON, reaching a value of 1,079.6 million RON, compared to the value of 1,002.7 million RON achieved in the first semester of 2025. The increase in EBITDA comes mainly from the variation of the supply segment, having a positive evolution in the first six months of 2026 compared to the similar period in 2025, the group announces.

The variation of the supply segment recorded an improvement in EBITDA of 122.8 million RON, up to the value of 181.3 million RON from 58.5 million RON in the previous period. The increase is due to the improvement in the segment’s operational performance, with a decrease in operating expenses of RON 211.9 million. Operating income recorded an increase in core income of RON 948.3 million, as well as a decrease in other operating income of RON 1,040.6 million, following the elimination of subsidies upon the end of the support scheme starting July 1, 2025.

“The results of this semester confirm the operational stability of the Group. Electrica continues the transformation process: supply is performing in a fully liberalized market, new production capacities are starting to contribute, and investments in renewables and storage are bringing us closer to the role we want in the energy market. Electrica has become more than distribution and supply. It has become a group in which we are about to start seeing the results of the integration of the entire value chain: production, storage, supply, distribution and energy services…The second half of the year will find us building new capacities, new services and an increasingly stronger role for the Electrica Group in Romania’s energy future,” says Alexandru Chiriță, CEO, Electrica.

Operating profit for H1 2026 recorded an increase of RON 66.6 million to RON 773.1 million, compared to RON 706.5 million in H1 2025. This increase is mainly due to the increase in operating income by RON 110.3 million, a positive impact diminished by the increase in operating costs by RON 43.7 million. Revenue from current activity recorded an increase of RON 1,158.3 million, a positive impact diminished by the decrease in other operating income by RON 1,048.0 million mainly from the conclusion of the support scheme for the supply segment. Net profit in H1 2026 recorded an increase of 8.6% or RON 36.1 million, to RON 457.5 million. This result is generated mainly as a result of the increase in operating profit diminished by the negative impact of the financial result in the first semester of 2026, to which is added the negative impact of the increase in profit tax.

In the supply segment, revenues recorded an increase in H1 2026 by approximately 948.3 million RON, or 28.7%, compared to H1 2025, reaching the value of 4,250.8 million RON. The increase in revenues from the supply of electricity and natural gas was determined mainly by the establishment of the selling price of electricity through competitive mechanisms, adapted to the company’s strategy. This positive effect was partially diminished by the 9% decrease in the quantity of energy supplied on the retail market.

The elimination of the capping scheme allowed the supply subsidiary to build its pricing strategy based on competitive market and profitability criteria, adapted to customer categories. The contribution of the supply segment to the Group’s consolidated revenues is 69.9%, and the contribution to the Group’s EBITDA is 16.8%.

Subsidy revenues for H1 2026 amounted to RON 25.7 million compared to RON 1,056.9 million recorded in H1 2025. As of June 30, 2026, estimated subsidies to be collected from the authorities total RON 2,544.2 million.

In the distribution segment, revenues increased by approximately RON 133.9 million, or 4.9%, to RON 2,839.9 million, (of which RON 1,773.6 million revenues with customers external to the Group), compared to H1 2025, mainly due to the increase in reactive energy revenues and the evolution of revenues recognized in accordance with IFRIC 12 (as a result of the recognition of revenues from concession contracts). EBITDA in the distribution segment had a negative evolution of RON 42.3 million mainly due to the increase in operating expenses.

The contribution of the electricity distribution segment to the Group’s consolidated revenues is 29.4%, and the contribution to the Group’s EBITDA is 85.2%.

In the production segment, revenues increased by approximately 4.4 million RON, or 82.8% to 9.7 million RON compared to the first semester of 2025, as a result of the operationalization of the Vulturu and Satu Mare 2 photovoltaic parks.

In H1 2026, DEER realized and commissioned investments worth 233 million RON (marginal variation of -1% compared to H1 2025), of which: 193 million RON represents works from the investment plan for 2026 (including additional works), respectively a degree of achievement of 24.8% of the value of the annual planned commissioning program, and 40.1 million RON represents investment works carried over from 2025.

Volume of electricity supplied to the retail market – 3.4 TWh, down by 9.0% compared to H1 2025; Electrica Furnizare serves approximately 3.2 million consumption places (the largest portfolio in Romania), of which 1.77 million consumption places on the competitive market and 1.46 million consumption places under universal service regime and as a supplier of last resort.

Market share in electricity supply – Electrica Furnizare is the third largest electricity supplier in Romania on both the total and competitive markets (based on volumes supplied), with a total market share of 14.27% and a competitive market share of 11.01% in January-May 2026, according to the latest available ANRE reports.

The volume of electricity produced – 21.0 GWh, more than 3 times more than in H1 2025. The increase reflects the entry into operation of the Vulturu and Satu Mare 2 photovoltaic parks after the second half of 2025.

In the production segment, the Electrica Group has in its portfolio renewable energy, photovoltaic and wind projects, with a total capacity of 307.5 MW, either in operation or in various stages of development. Of these, 46.5 MW are already operational. Electrica also has energy storage projects of approximately 949.5 MWh in various stages of development.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.