Romanian state-owned electricity producer Nuclearelectrica posted a net profit of RON 66.9 million (EUR 14.9 million) in the first quarter of this year, up by 89% compared to the same period of 2015.

The company’s revenues went down by 2.4%, to RON 458 million (EUR 102 million) but it managed to compensate this by reducing its expenses by 14.4%, to RON 378 million (EUR 84 million).

Nuclearelectrica, which operates Romania’s Cernavoda nuclear power plant, sold 2.8 TWh of electricity in the first quarter, slightly more than in the same period of last year.

The average sale price on the free market, where Nuclearelectrica delivers almost 80% of its electricity, was RON 162.77 per MWh.

editor@romania-insider.com