Romanian nuclear power producer expects fivefold increase in profit this year

State-owned Nuclearelectrica, the company that operates Romania’s only nuclear power plant, estimates a gross profit of RON 365 million (EUR 78 million) this year, some five times higher than the gross profit budgeted for 2017, of RON 70 million.

The company’s shareholders will discuss the budget for this year in the general shareholders meeting to take place on March 2.

Nuclearelectrica’s managers expect a significant increase in operational revenues as a result of higher electricity prices. The average price Nuclearelectrica expects to get for its energy this year is some 21% higher compared to last year, according to a company report.

The electricity market in Romania was completely liberalized on January 1, 2018.

Nuclearelectrica expects total revenues of RON 2.1 billion (some EUR 450 million) this year, up by 18% compared to those budgeted for last year. The company hasn’t released its financial results for 2017 yet.

Nuclearelectrica is listed on the Bucharest Stock Exchange and has a market capitalization of EUR 520 million.

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