Romanian power producer records losses of over EUR 7 mln in Q2

Romanian electricity producer Nuclearelectrica, which operates the country's nuclear power plant at Cernavoda, posted losses of EUR 7.3 million in the second quarter of this year, double compared to those recorded in the same period last year. Its revenues from the sale of energy stagnated, whereas the financial expenses increased. The energy sold in the second quarter of the year rose by 1% to 2.38 TWh, as the Cernavoda plant has gone through three planned and unplanned shutdowns. The company saw losses of EUR 6.5 million from its operating activities and losses of EUR 2.8 million from its financial activity, due to exchange rate differences and lower interest on deposits. Overall, in the first half, the company had a net profit of EUR 0.65 million, more than five times lower compared to the first six months of 2014. Romania’s Energy Ministry controls 82.5% of Nuclearelectrica’s shares. The company’s shares are trading on the Bucharest Stock Exchange. editor@romania-insider.com