Societatea Energetica Electrica S.a. · BVB:EL
Societatea Energetica Electrica — Electrica Group — Investor Presentation (November 2023)
86 slides from Societatea Energetica Electrica's investor presentation, Nov 14, 2023
Slide 1: Electrica Group Presentation
Electrica Group Presentation (acc. OMFP 2844/2016) 14 November 2023 Public
Slide 2: Content
Content 1 Electrica Group’s overview 2 Group’s Financial Results (2022 and H1 2023) 3 Group’s Budget for 2023 4 Main Corporate Events in 2023 5 Group Strategy Implementation 6 Shareholdings’ Structure and Evolution of the Shares & GDRs 7 Appendices ➢ Regulatory Aspects - Distribution ➢ Regulatory As
Slide 3: Disclaimer
DISCLAIMER The results presented are based on the consolidated financial statements prepared in accordance with the Order of the Minister of Public Finance no. 2844/2016 for the approval of the Accounting Regulations compliant with the International Financial Reporting Standards, as subsequently ame
Slide 4: Electrica Group overview
1 Electrica Group overview 4 Public
Slide 5: Electrica is the most important national distribution operator and electricity supplier
Electrica Group overview Electrica is the most important national distribution operator and the electricity supplier with the largest places of consumption Electricity Supply Geographical presence ~3.5 millions Total market share Energy supplied on % retail market places of 17.08% (Jun 2023) consump
Slide 6: Group structure
Group structure Electrica Group overview Electrica Group is the only Romanian group listed on the BSE & LSE which operates within energy production, distribution, supply & energy service segments Distributie Energie Electrica 99.99% 2) Electrica Furnizare S.A. 99.99%2) Romania S.A. Distribution Oper
Slide 7: Electrica showcases remarkable performance following its 2014 dual listing
Electrica Group overview Electrica showcases remarkable performance following its 2014 dual listing ➢ Electrica is the only listed Romanian company active in electricity distribution, supply and production in Romania. Its listing in July 2014 on was the largest primary initial public offering in Rom
Slide 8: Corporate Governance Bodies
Corporate Governance Bodies Electrica Group overview • Mr. Iulian Cristian Bosoanca – Chair Board of • Mr. Gicu Iorga Directors • Mr. Ion-Cosmin Petrescu Current • Mr. Adrian-Florin Lotrean Composition (since 21 April • Mr. Radu-Mircea Florescu 2021*) • Mr. Dragos-Valentin Neacsu • Ms. Valentina Ele
Slide 9: Corporate Governance Bodies - Non-Executive Management
Electrica Group overview Corporate Governance Bodies - Non-Executive Management Board of Directors - Current composition Composition Mr. Cristian Bosoanca Chair Mr. Gicu Iorga Mr. Adrian Lotrean Mr. Cosmin Petrescu Mr. Dragos Neacsu Mr. Radu Florescu Ms. Valentina Elena Siclovan https://www.electric
Slide 10: Corporate Governance Bodies – Executive Management
Electrica Group overview Corporate Governance Bodies – Executive Management Executive Management Mr. Alexandru- Mr. Stefan Frangulea Aurelian Chirita Chief Financial Officer Chief Executive Officer 2017 Ms.2018 Livioara Sujdea Chief Distribution Ms. Andreea Lambru Officer Chief Business Development
Slide 11: Leading Player in Distribution and Supply
Leading Player in Distribution and Supply Electrica Group overview Distribution Supply Volumes Distributed in 2022 Volumes Supplied in 2021 Volumes Supplied in 2022 17.96% 13.3% DEER_MN 18.42 DEER_TN ELECTRICA FURNIZARE 12.7% DEER_TS Others 47.19TWh 44.7 TWh 50.99 TWh Altii 60.3% 13.7% 81.58 82.04%
Slide 12: Group's financial results (2022 and H1 2023)
2 Group’s financial results (2022 and H1 2023) (acc. OMFP 2844/2016) 12 Public
Slide 13: Summary Consolidated Financials – OMFP 2844/2016
Summary Consolidated Financials – OMFP 2844/2016 Group’s financial results Revenues EBITDA Growth and Margin Performance (RON mn.) EBITDA (RON mn.) and EBITDA Margin (%) 10,010 13.6% 1,60 0 16. 0% 609 1,40 0 14. 0% 1,20 0 13.2% 12. 0% 7,151 1,00 0 10. 0% 582 800 8.0 % 4,629 4,808 600 1,363 2.2% 6.0
Slide 14: Consolidated EBITDA and Net Result Evolution (H1 2023 / H1 2022)
Consolidated EBITDA and Net Result Evolution – OMFP 2844 (H1 2023 / H1 2022) Group’s financial results The consolidated EBITDA variation H1 2023 vs. H1 2022 is RON 535 mn., being mostly the cumulated effect of the factors below: EBITDA (RON mn.) ❑ The positive variation of the energy margin RON 554
Slide 15: Consolidated EBITDA and Net Result Evolution (2022 / 2021)
Consolidated EBITDA and Net Result Evolution - OMFP 2844 (2022 / 2021) Group’s financial results EBITDA (RON mn.) Consolidated EBITDA variation 2022 vs. 2021 is RON 1,491 mn., being mainly the cumulative effect of the following factors: ❑ The positive variation of the energy margin RON +601 mn., out
Slide 16: Distribution Segment – Highlights (H1 2023)
Distribution Segment – Highlights (OMFP 2844/2016) (H1 2023) Group’s financial results Key figures H1 2023 Financial results EBITDA increased by RON 694 mn., mainly due to the evolution of: ▲ increase in energy margins by RON 713 mn., as an effect of: ~3.91 million ▲ increase in energy revenues by R
Slide 17: Distribution Segment – Highlights (2022)
Distribution Segment – Highlights (OMFP 2844/2016) (2022) Group’s financial results Key figures 2022 Financial results EBITDA increased by RON 645 mn., mainly as a result of the evolution of the indicators below: ▼ decrease in energy margin by RON -345 mn., as a net effect of: ▲ increase in energy r
Slide 18: Distribution Segment – Main Aspects (2022 and H1 2023)
Distribution Segment – Main Aspects (2022 and H1 2023) Group’s financial results Relevant regulatory information: Distributed energy margin Distribution tariffs [RON/MWh] • At the beginning of the current PR4 regulatory period, ANRE made a total (RON mn.) negative correction to close PR3 in the amou
Slide 19: RRAB Analysis of the Distribution Segment Budgeted Result 2023
Group’s financial results RRAB Analysis of the Distribution Segment Budgeted Result for the Year 2023 (RON mn.) Relevant regulatory issues: ➢ RON 451 mn., regulated result includes a negative deviation of the NL cost of RON 118 mn. (calculated for the quantity of 1,884 GWh and the price difference o
Slide 20: Analysis of Regulated Profit – Budgeted Result for Distribution
Group’s financial results Analysis of Regulated Profit – OMFP 2844 Budgeted Result for the Distribution Segment for the Year 2023 (RON mn.) 20 Public
Slide 21: Analysis of RRAB - OMFP 1802 – OMFP 2844 Result
Analysis of RRAB- OMFP 1802 – OMFP 2844 Result Group’s financial results Distribution Segment at H1 2023 (RON mn.) Relevant regulatory issues: The positive regulated result of RON 193 mn. does not include the effect of the capitalization of the negative deviation of the cost of NL - in realized valu
Slide 22: Analysis of Regulated Net Result 2022
Analysis of Regulated Net Result 2022 – OMFP 1802/2014 – OMFP 2844/2016 Group’s financial results for the Distribution Segment RON 87 mn. * * Please see next slide 22 Public
Slide 23: RBAR-OMF Analysis Results Distribution Segment for 2022
RBAR-OMF Analysis Results Distribution Segment for 2022 Group’s financial results 135 482 430 87 134 32 389 265 1.177 989 558 513 7 45 12 26 RRAB PR3 Correction RRAB Profit Annual Income Dif NL Dif OpexC Dif OpexNC DifDepreciation Gross Profit other RRAB NL Others* Accounting corrections RRR correct
Slide 24: DEER
DEER Group’s financial results Key operational indicators 20.00 DEER – Distributed energy volumes (TWh) 18.47 ~3.88 mn 17.48 17.73 18.00 High Voltage users 16.00 Medium Voltage 13.81 13.37 Low voltage 12.87 202,537 km 97,196 km2 14.00 12.55 8.75 8.45 8.45 voltage lines coverage Distributed energy vo
Slide 25: DEER
Rezultate financiare ale Grupului DEER DEER TN - CPT (%) - Tinta* si Realizat 15.00% Indicatori operationali cheie DEER - Electricity needed to cover network losses (NL)(GWh) 2500 10.00% 13.62% 12.88% 12.87% 12.62% 12.20% 2000 11.28% 11.27% 11.25% 11.16% 11.00% 10.42% 10.37% 10.21% 10.20% 9.96% 9.88
Slide 26: DEER - TN
DEER - TN Group’s financial results Key figures 2022 and H1 2023 Network losses cost Network losses (RON mn) (GWh) ~1.36 mn 639 users 633 649 71,110 km 34,162 km2 392 408 voltage lines coverage 296 322 area 167 RAB: RON 2.06 bn (est.) 2.73 TWh (-3.6%) 5.67 TWh (-3.8%) H1 2023 2022 2021 H1 2022 2022
Slide 27: DEER - TS
Group’s financial results DEER - TS Key figures 2022 and H1 2023 Network losses Network losses cost (RON mn) (GWh) ~1.22 mn users 548 692 549 59,238 km 34,072 km2 354 309 voltage lines coverage area 354 315 183 RAB: RON 1.88 bn (est.) 2.84 TWh (-9.6%) 6.11 TWh (-5.8%) H1 2023 2022 2021 H1 2022 2022
Slide 28: DEER - MN
DEER - MN Group’s financial results Key figures 2022 and H1 2023 Network losses cost Network losses (RON mn) (GWh) ~1.34 mn users 675 72,188 km 28,962 km2 795 684 voltage lines coverage 413 area 372 448 388 232 RAB: RON 2.13 bn (est.) 2.71 TWh (-10,2%) 5.95 TWh (-2.4%) H1 2023 2022 2021 H1 2022 2022
Slide 29: Financial impact of the electricity market perspectives evolution - distribution
Group’s financial results The financial impact of the electricity market perspectives evolution - distribution Evolution of the cost of electricity needed to cover NL (net with income) ❑ In H1 2023, the cost of electricity purchased for NL (net with income) coverage decreased by RON 491 million, or
Slide 30: Electrica Serv (SERV)
Electrica Serv (SERV) (OMFP 2844/2016) Group’s financial results General overview Revenues SERV provides repair and other energy-related services to third parties, as well as several services to the companies within the group (vehicles rental, building rental etc.). Starting with (RON mn.) 1 Decembe
Slide 31: Supply Segment – Electrica Furnizare
Group’s financial results Supply Segment – Electrica Furnizare (OMFP 2844/2016) EBITDA decreased by RON 155 mn. compared to H1 2022, mainly following the evolution of the EBITDA significantly increased in 2022, by RON 831 mn. compared to 2021, mainly following the Key figures factors below: evolutio
Slide 32: Electrica is the largest supplier by number of places of consumption
In the whole supply market, Electrica is the largest supplier by number of places of consumption Group’s financial results Total market share – June 2023 Competitive market share – June 2023 Electrica The supply market comprises the competitive segment, universal Electrica Furnizare, service (US) as
Slide 33: Supply – Key operational indicators
Supply – Key operational indicators Group’s financial results Number of consumption places - electricity (mn.) 4.00 3.56 3.57 3.52 3.49 3.57 3.51 3.51 3.49 3.58 3.55 3.51 3.50 3.58 3.51 3.50 3.00 1.88 1.85 1.85 1.83 2.09 1.85 1.80 1.95 1.85 2.27 2.00 3.29 3.08 3.29 3.29 3.27 1.00 1.63 1.64 1.66 1.65
Slide 34: Supply - Key Aspects-H1 2023
Supply - Key Aspects-H1 2023 Group’s financial results Volume of Electricity Supplied Volume of Electricity Supplied on Number of consumption places Number of consumption places on Retail Market H1 2023 (TWh) Retail Market H1 2023 (TWh) at H1 2023 (mn) at H1 2023 (mn) 4.6 4.6 4.2 3.5 3.5 3.5 4.2 3.9
Slide 35: Supply - key aspects – 12M 2022
Supply - key aspects – 12M 2022 Group’s financial results Volume of Electricity Supplied Volume of Electricity Supplied on Number of consumption places Number of consumption places on Retail Market 12M 2022 (TWh) Retail Market 12M 2022 (TWh) at 31 December 2022 (ths) at 31 December 2022 (ths) 9.3 9.
Slide 36: Financial Impact of Electricity Market Evolution – Supply – H1 2023
The Financial Impact of the Electricity Market Perspectives Evolution – Supply – H1 2023 (1/3) Group’s financial results ❑ In the period January - June 2023 the realized gross margin is RON 282 mn., - RON 191 mn. below the level achieved in 2022 (RON 473 mn.), and in terms of quantities there was a
Slide 37: Financial impact of electricity market evolution – Supply – FY 2022
Group’s financial results The financial impact of the electricity market perspectives evolution – supply – FY 2022 (2/3) ❑ In the period Jan.22 - Dec.22 the realized gross margin was of RON 757 Mn, RON + 927 Mn. above the level realized in 2021 (RON -171 Mn.), and in terms of volume there was a decr
Slide 38: Financial Impact of Electricity Market Evolution – Supply (3/3)
Group’s financial results The Financial Impact of the Electricity Market Perspectives Evolution – Supply (3/3) Receivables’ analysis (acc. OMFP 1802/2014) ❑ The balance of receivables increased by 4% (+RON 103 mn.) at the end of H1 2023 compared with the same period of the last year and reached RON
Slide 39: Production Segment – Highlights
Production Segment – Highlights (OMFP 2844/2016) Group’s financial results General overview Production Segment – Structure at the date of this presentation Starting with the year 2020, the Electrica Group proposed the development of a portfolio of % shareholdings as of Installed electricity producti
Slide 40: Group Liquidity
Group’s financial results Group Liquidity ❑ At Group level, the total liquidity available in cash and overdraft limits as of 30 June 2023 was RON 342 mn., higher than the level recorded at the end of Total liquidity (RON mn.) the previous period, 30 June 2022. The level of cash on 30 June 2023 was R
Slide 41: Dividend Distribution
Dividend Distribution Group’s financial results Distributed gross dividends (FY 2014 – 2022) (RON mn) Gross dividend per share (RON) and Dividend yield(1) (%) 291.6 6.9% 7.3% 6.9% 251.4 245.4 247.5 246.1 247.9 6.8% 6.0% 244.7 5.2% 5.2% 6.1% 0.8600 0.7217 0.7415 0.7237 0.7300 0.7248 0.7300 152.8 0.45
Slide 42: Group's Budget for 2023
3 Group’s Budget for 2023 42 Public
Slide 43: Consolidated budget 2023 – OMFP 2844/2016
Consolidated budget 2023 (RON mn.) – OMFP 2844/2016 Group’s budgets for 2023 The significant variances are detailed below: B2023 vs. B2023 vs. Description A2022 B2023 A2022 A2022 1. increase in revenues of RON 538.2 mn. is the net effect of: (abs) (%) ▲ increase in the energy revenues of RON 393,1 m
Slide 44: 2023 Budget – Distributie Energie Electrica Romania (DEER)
2023 Budget – Distributie Energie Electrica Romania (DEER) Group’s budgets for 2023 The budget for 2023 was built on the assumptions presented below: ➢ Distributed quantities ▪ The quantities forecasted to be distributed included in the DEER 2023 budget were established considering the evolution of
Slide 45: 2023 Budget vs Actual 2022 – DEER
2023 Budget vs Actual 2022 – DEER (RON mn.) Group’s budgets for 2023 Var. abs. '23 vs. Description Actual 2022 Budgeted 2023 Var. [%] '23 vs. '22 '22 Revenue from distributed 2,515.9 2,908.9 393.1 15,6% Other energy revenue 132.8 207.8 75.0 56,5% Revenue from CAPEX with own forces 126.9 141.6 14.6 1
Slide 46: 2023 Consolidated budget – Electricity supply and production segment
Group’s budgets for 2023 2023 Consolidated budget – Electricity supply and electricity production segment Law 357/2022 with the main aspects: ➢ The categories of customers to whom the electricity capping scheme applies: ✓ Household customers (tranche <100 KWh/month – maximum price RON 0.68/KWh, tran
Slide 47: 2023 Budget vs. Actual 2022 – EFSA
2023 Budget vs. Actual 2022 – EFSA (RON mn.) Group’s budgets for 2023 Variation [mil. Variation [%] vs. Description A2022 B2023 RON] vs. '22 '22 Revenues from electricity and gas 10,519.7 12,345.0 1,825.3 17.4% Purchasing, distributing, transporting electricity/has expenses (9,788.1) (11,692.8) (1,9
Slide 48: Main Corporate Events
4 Main Corporate Events 48 Public
Slide 49: Relevant Corporate Events in 2023 and up to date (1/4)
Relevant Corporate Events in 2023 and up to date (1/4) Main Corporate Events ❑ On 27 April 2023, the Ordinary General Meeting of Shareholders (OGMS) and the Extraordinary General Meeting of Shareholders (EGMS), which took place physically and online through the voting platform https://electrica.voti
Slide 50: Relevant Corporate Events in 2023 and up to date (2/4)
Relevant Corporate Events in 2023 and up to date (2/4) Main Corporate Events ▪ On 27 February 2023, 26 April 2023 and 24 August 2023 ELSA’s Board of Directors decided to extend the duration of the mandate of Mr. Alexandru-Aurelian Chirita, as interim CEO. The current mandate is until 31 December 202
Slide 51: Relevant Corporate Events in 2023 and up to date (3/4)
Relevant Corporate Events in 2023 and up to date (3/4) Main Corporate Events ▪ On 20 January 2023, the Ministry of Energy, as the concessionaire, amended the concession contract with the Electrica Group for the distribution segment to reflect that, in the event of early termination of the concession
Slide 52: Relevant Corporate Events in 2023 and up to date (4/4)
Relevant Corporate Events in 2023 and up to date (4/4) Main Corporate Events ▪ On 19 June 2023, Electrica announced its shareholders and investors that its subsidiary Distributie Energie Electrica Romania (DEER) has attracted EUR 57 mil. non-reimbursable financing through the Modernisation Fund. ▪ O
Slide 53: Group Strategy implementation
5 Group Strategy implementation 53 Public
Slide 54: Electrica Group – Corporate Strategic Objectives (updated April 2022)
Group Strategy Implementation Electrica Group – Corporate Strategic Objectives (updated April 2022) Objectives Targets Initiatives (updates) Increase of liquidity with the scope of inclusion in the FTSE Russell • 10% higher overall stock yield during 2022-2026 indexes – Electrica has 2 market makers
Slide 55: Sustainability is one of the Values of Electrica
Group Strategy Implementation Sustainability is one of the Values of Electrica Next steps: In 2023 Electrica published, for the 7th consecutive year, the Group Elaboration of a Group Sustainability Sustainability report, based on the Strategy GRI reporting Standard Continuing to collect internal dat
Slide 56: Shareholdings' structure and evolution of the shares and GDRs
6 Shareholdings’ structure and evolution of the shares and GDRs 56 Public
Slide 57: Shareholder Structure at 30 September 2023
Shareholder Structure at 30 September 2023 Shareholdings’ structure and evolution of the shares and GDRs Percentage of Percentage of share Shareholder No. of Shares shares with voting capital (%) right (%) Romanian State through the Ministry of Energy 169,046,299 48.7948% 49,7850% European Bank for
Slide 58: Monthly Volume and Average Price of Electrica's Shares and GDRs
Shareholdings’ structure and evolution of the shares and GDRs Monthly Volume and Average Price of Electrica’s Shares and GDRs (1 Jan 2023 – 31 Oct 2023) 3,000,000 12.00 2,771,782 2,477,762 2,500,000 10.00 9.62 2,000,000 1,901,038 8.00 1,812,392 7.35 1,640,284 1,500,000 1,429,127 6.00 1,145,678 1,153
Slide 59: Electrica's adjusted closing price vs BET-TR
Shareholdings’ structure and evolution of the shares and GDRs Electrica’s adjusted closing price vs BET-TR (1 January – 31 October 2023) 29.43 30.00 25.00 EL: +20,12% BET-TR: +29,43% 20.00 20.12 15.00 4.45 10.00 5.00 3.00 0.00 -5.00 -10.00 BET-TR Pretul Electrica ajustat cu dividendele Source: Compa
Slide 60: Electrica's Median monthly volume vs FTSE Russell liquidity threshold
Shareholdings’ structure and evolution of the shares and GDRs Electrica’s Median monthly volume vs FTSE Russell liquidity threshold (1 January 2022 – 30 October 2023) 80,000 76,576 70,000 60,000 50,000 80,892 79,800 79,632 78,728 78,705 77,493 77,330 77,294 40,000 30,000 20,000 19,648 16,995 10,000
Slide 61: Appendices
7 Appendices Regulatory Aspects – Distribution Regulatory Aspects – Supply 61 Public
Slide 62: Important Regulatory Changes – Distribution Activity (1/2)
Appendices - Regulatory Aspects - Distribution Important Regulatory Changes – Distribution Activity (1/2) ❑ RP4 Regulations on Distribution tariffs • RRR: ANRE approved Order no. 75 of 6 May 2020, which established a regulated rate of return (RRR) for electricity and gas, distribution and transmissi
Slide 63: Important Regulatory Changes – Distribution Activity (2/2)
Appendices - Regulatory Aspects - Distribution Important Regulatory Changes – Distribution Activity (2/2) ❑ MF instructions for asset capitalization according to the provisions of art. III of GEO no. 119/2022 ✓ Capitalized amounts are recorded in accounting through accounting article 208 "Other inta
Slide 64: Changes in Distribution Regulation - RP4
Appendices Changes in Distribution Regulation - RP4 Regulated Revenue and tariff calculation 1 2 3 4 5 6 7 8 7 Regulated Revenue Reactive en. Regulated Contr. Non- Tariff NL Cost Depreciation RRR2 & 95% profit Revenue OPEX1 controllable other activ. 9 Forecasted Volume OPEX 1 • The starting point is
Slide 65: Changes in Distribution Regulation
Appendices - Regulatory Aspects - Distribution Changes in Distribution Regulation Methodology for determining distribution tariffs - Summary RP4 vs RP3 RP3 RP4 1 RRR January 2019: 5.66% existing RAB & 1% incentive RP4 network invest.(acc. ANRE) Return RRR (7.7%) applied to RAB 29 March 2019–30 April
Slide 66: Changes in Distribution Regulation – Comparative elements RP4 vs RP3
Appendices - Regulatory Aspects - Distribution Changes in Distribution Regulation Methodology for determining distribution tariffs – Comparative elements RP4 vs RP3 RAB & Investment RP3 methodology RP4 methodology 1. RAB includes: assets used for the distribution service, which are recorded into the
Slide 67: Changes in Distribution Regulation – Comparative elements RP4 vs RP3
Appendices - Regulatory Aspects - Distribution Changes in Distribution Regulation Methodology for determining distribution tariffs – Comparative elements RP4 vs RP3 Opex & NL RP3 methodology RP4 methodology Controlable OPEX 1. OpexC 2019 is established based on formula (approved 1. OpexC 2019 is not
Slide 68: Regulatory-related Developments – Supply (1/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (1/16) GEO no. 27/2022 on the measures enforceable for the end consumers of the electricity and natural gas market from 1 April 2022 until 31 March 2023, amending and completing some en
Slide 69: Regulatory-related Developments – Supply (2/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (2/16) Law No. 206/2022 to approve Government Emergency Ordinance No. 27/2022 regarding the measures applicable to final customers on the electrical energy and natural gas market during
Slide 70: Regulatory-related Developments – Supply (3/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (3/16) GEO no. 119/2022 - to amend and supplement the GEO n98xo. 27/2022 on the measures applicable to final customers on the electrical energy and natural gas market during 1 April 202
Slide 71: Regulatory-related Developments – Supply (4/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (4/16) Law no. 357/2022 - Law on the approval of Government Emergency Ordinance no. 119/2022 for the modification and completion of Government Emergency Ordinance no. 27/2022 on the mea
Slide 72: Regulatory-related Developments – Supply (5/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (5/16) • maximum 1 leu/kWh, for the full consumption of public and private hospitals, public and private education units, nurseries and public and private providers of social services a
Slide 73: Regulatory-related Developments – Supply (6/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (6/16) Law no. 5/2023 - Law on the modification and completion of Law no. 220/2008 on the establishment of the system for the promotion of energy production from renewable energy source
Slide 74: Regulatory-related Developments – Supply (7/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (7/16) Law no. 206/2023 - Law on the approval of the Government Emergency Ordinance no. 153/2022 for the amendment and completion of the Government Emergency Ordinance no. 27/2022 regar
Slide 75: Regulatory-related Developments – Supply (8/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (8/16) ANRE Order no. 5/2023 — Order for the approval of the Regulation for the supply of electricity to final customers, as well as for the modification and completion of some orders o
Slide 76: Regulatory-related Developments – Supply (9/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (9/16) ANRE Order no. 9/2023 — Order regarding the establishment of the mandatory quota for the purchase of green certificates for the year 2022 • enter into force on 1 March 2023; • th
Slide 77: Regulatory-related Developments – Supply (10/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (10/16) ANRE Order no. 13/2023 — Order for the approval of the framework contract for the supply of electricity in the universal service regime, the general conditions for the supply of
Slide 78: Regulatory-related Developments – Supply (11/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (11/16) ANRE Order no. 19/2023 — Order for the amendment of the green certificate invoicing procedure, approved by the Order of the president of the National Energy Regulatory Authority
Slide 79: Regulatory-related Developments – Supply (12/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (12/16) ANRE Order no. 18/2023 — Order regarding the approval of the Methodology for monitoring the wholesale electricity market • modifying and completing the Methodology by updating t
Slide 80: Regulatory-related Developments – Supply (13/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (13/16) ANRE Order no. 59/2023 — Order regarding the approval of the Procedure for the recovery of improperly issued green certificates and for the modification of the Regulation for th
Slide 81: Regulatory-related Developments – Supply (14/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (14/16) ANRE Order no. 67/2023 — Order regarding the approval of the tariff for the purchase of system services for the transport and system operator Compania Nationala de Transport al
Slide 82: Regulatory-related Developments – Supply (15/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (15/16) ANRE Order no. 76/2023 — Order regarding the amendment of the annex to the Order of the President of the National Energy Regulatory Authority no. 139/2022 for the approval of th
Slide 83: Regulatory-related Developments – Supply (16/16)
Appendices - Regulatory Aspects - Supply Regulatory-related Developments entered in force until July 2023 – Supply (16/16) ANRE Order no. 86/2023 — Order on the modification of the Annex to the Order of the President of the National Energy Regulatory Authority no. 16/2020 on the approval of the Meth
Slide 84: Glossary
Glossary ANRE Romanian Energy Regulatory Authority IFRS International Financial Reporting Standard B2B Business to Business IMS Integrated Management System BET-TR Bucharest Exchange Trading - Total Return Index IPO Initial Public Offering BM Balancing Market LSE London Stock Exchange BoD Board of D
Slide 85: 2023 Financial Calendar
2023 Financial Calendar • 7 March Publication of the 2022 financial annual results - documents for the Ordinary General Meeting of Shareholders • 13 March Investor and analyst teleconference for presentation of 2022 consolidated financial results • 27 April Annual General Meeting of Shareholders • 2
Slide 86: Investor Relations & Disclaimer
Investor Relations & Disclaimer • Email: ir@electrica.ro • Web: https://www.electrica.ro/en/investors/ Investor Relations • Tel: +40 (0)21.208.50.35; +40 731 796 111 • Address: 9 Grigore Alexandrescu Str., 1st District, Bucharest, 010621 This document has been prepared by Electrica and is for inform
Electrica Group — Investor Presentation (November 2023) on 6ix