Nuclearelectrica’s planned outage likely to fuel already high electricity prices in Romania

Nuclearelectrica (SNN), one of the largest electricity producers (its two reactors cover 18-20% of domestic consumption), will initiate a one-month planned technical outage on May 9.

This prompts expectations for a further rally of the spot electricity prices, which already soared by 31% in Q1 compared to the same period of 2020. In recent days, the price of energy on the spot market has approached the threshold of EUR 100 per MWh.

"There are several factors, but we need to look at the evolution of the price of CO2 certificates. That is part of the answer," according to experts quoted by Ziarul Financiar daily.

In separate news, Nuclearelectrica's shareholders approved, on May 6, the budget for 2021. The company targets revenues of RON 2.74 bln (EUR 557 mln), up by 6% compared to 2020, and a net profit of RON 562 mln (EUR 114 mln), down 19.6% year-on-year.

Nuclearelectrica has a market capitalization of over RON 8.4 bln (EUR 1.7 bln) after its shares have gained 56% since the beginning of this year.

(Photo source: Nuclearelectrica.ro)