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May 24, 18:47

Romania’s nuclear power company Nuclearelectrica ends 2013 with record profit

Romanian state-owned company Nuclearelectrica, which runs the Cernavoda nuclear power plant, ended 2013 with a preliminary profit of RON 417.3 million (EUR 94.6 million), up from RON 24.1 million (EUR 5.4 million) reported a year before, according to the company’s preliminary results.

In early-February this year, the company published on its website the budget for this year, which showed a higher preliminary profit of RON 456.7 million (some EUR 103 million). According to this document, the company has budgeted a net profit of only RON 27.9 million (some EUR 6.2 million) for this year.

Nuclearelectrica reports total revenues of RON 2.05 billion (EUR 464 million) for 2013, up from 1.68 billion (EUR 377 million) in 2012, reads the company’s preliminary results.

The company expects total revenues of RON 1.82 billion (EUR 405 million) for this year, according to the income and expenditure budget for 2014.

Nuclearelectrica plans to produce a total of 10.5 million MWh of electricity in 2014.

Based on a decision of Romania’s energy regulator (ANRE), Nuclearelectrica has to sell a total of 3.7 million MWh of electricity on the regulated market this year, meaning around 35.5 percent of the planned production, for a regulated price of RON 145.8 per MWh (or some EUR 32 per MWh).

The Romanian state is the major shareholder of the company.

Irina Popescu, irina.popescu@romania-insider.com

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