"The company's performance remained aligned with the targets set in the approved 2024 budget, with only a slight adjustment from initial estimates. However, the Group's operational and net margins decreased by 15% and 14%, respectively, compared to 2023. This decline was primarily driven by a lower volume of electricity sold and reduced electricity selling prices. The 2024 results reflect the expectations outlined in the approved budget, although they slightly underperformed due to weaker-than-expected hydrological conditions”, the report submitted to the Bucharest Stock Exchange stated.

Hidroelectrica's financial results in 2024 were affected by a decline in electricity production, a reduction in the volume of electricity sold, and lower selling prices, all of which contributed to a drop in revenues from electricity sales.

Net electricity production fell by approximately 22% compared to 2023, reaching 13,864 GWh between January and December 2024. This decrease was primarily due to poor hydrological conditions, particularly from April to September, when the average flow of the Danube declined by about 18% compared to the same period in 2023.

The first five months of the year played a significant role in the overall decline recorded in 2024, mainly due to the introduction of modifications to the MACEE (Centralized Electricity Purchase Mechanism) on April 1, 2024, at the beginning of the second quarter. These changes led to significant market fluctuations in both prices and traded volumes.