Electrica Group approved an investment budget of 878 million RON for DEER in 2024

The Board of Directors of the Electrica Group approved the consolidated value of the investment plan (CAPEX) for the year 2024, in the total amount of over 1.12 billion RON, 878 million RON representing the annual financial plan for the investments of Distribuție Energie Electrica Romania (DEER), member of the Group, the largest distribution operator in Romania, which serves approximately 4 million users, in 18 counties.

Mihaela Rodica Suciu, DEER General Manager: “We appreciate the fact that investments in electricity distribution are a priority for the Electrica Group, as evidenced by the amount approved by the Board of Directors for the implementation of the investment plan assumed by DEER. Our strategic objective is to make the necessary investments for the development and modernization of distribution networks. We have met and even exceeded our investment plan for 2023, and our firm commitment is to implement a very ambitious investment program in 2024 as well and to continue along the same lines in the coming years.

For us, electricity distributors, the energy transition means, first of all, smart grids – automation, digitization, artificial intelligence, drones, robots, the integration of innovative technologies at a stage where distribution networks turn into distribution systems, in active and participatory networks. The energy transition also means massive investments for connecting prosumers, for electric vehicle charging stations, it means energy efficiency through real-time energy measurement using smart metering systems. And the investments we make, the digitization, the innovative technologies we strive to implement represent not only the future, but the obligation we have assumed for the development of distribution networks.”

DEER has planned total investments of around 100 million euros, annually, from its own sources, from distribution tariffs, but also important financing from other sources, for the modernization of the networks. One of the strategic objectives assumed and fulfilled by the company is to substantially increase the level of access to non-reimbursable funds for investment works. Until now, DEER has signed 13 financing contracts, worth 333 million euros, of which 259 million euros are non-refundable, for investments in the modernization and development of the network, digitalization, and efficiency of business processes, with the aim of offering users high quality services.