Higher electricity prices boost Romanian nuke plant’s profit

Romanian state-controlled company Nuclearelectrica, which operates the Cernavoda nuclear power plant, registered a net profit of RON 415.9 million (EUR 88 mln) in the first nine months of this year, almost 30% higher than in the same period last year.

Its operating revenues increased by 15% to RON 1.81 billion (EUR 380 mln), according to data published by the company.

Operating profit (EBITDA) increased by 17.3% compared to the same period of the previous year, to RON 936.3 mln (EUR 197 mln), boosted by the 16.6% increase in revenues from the sale of electricity.

The nuclear power plant produced 7,524 GWh of electricity in the nine-month period, 1.5% more than in the same period last year. However, the electricity prices on the free market increased significantly and offset the regulated price for the sales to residential users set under the emergency ordinance (OUG) 114/2018.

Compared to the same period of the previous year, the quantity of electricity sold through bilateral contracts decreased by 2% while the price increased, on average, by 16%. The quantity of electricity sold on the spot market (PZU) decreased by 33% while the average sale price on this market segment rose by 32%.

The company sold approximately 7.4% of its energy on the regulated market (compared to no such sales in the first nine months of 2018), at a regulated price.

(Photo source: Nuclearelectrica.ro)