REN profits grow 15% in 2022 to 111.8 million | Energy

Last year, REN – Redes Energéticas Nacionais registered a net profit of 111.8 million euros, a growth of 15% compared to 2021, the company said in a statement.

This result was due to an “improvement in operational performance”, said the company, noting that it was “partially impacted by the reduction in financial results (-1.4 million euros), a higher tax burden (+2.2 million euros) and an increase in the Extraordinary Contribution to the Energy Sector (+1 million euros), reflecting the increase in the base of regulated assets”.

According to REN, “the consumption of electricity in Portugal from renewable sources represented 49.4% of the total supply”, a value lower by around 10.27 pp (percentage points) compared to 2021, with “electricity consumption increased by 1.8%”.

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