Bulgaria, NPP Kozloduy posted a record net profit in the amount of almost 367 million euros in the first nine months of 2021

, SEE Energy News

Bulgaria’s sole nuclear power plant Kozloduy posted a record net profit in the amount of almost 367 million euros in the first nine months of 2021.

This is mostly due to constant and relatively low electricity production costs, while, on the other hand, electricity prices on the exchanges have soared in the past few months, with October being 50 % more expensive than September.

Although most of the rise happened in the fourth quarter of the year, 9-month financial results of NPP Kozloduy are still impressive, with total revenues rising by 70 % compared to the same period in 2020, reaching over 800 million euros. Net profit was three times higher compared to January-September 2020 period, amounting to 367 million euros.

However, most of the plant’s profits are taken by the state, in order to cover the aid offered to Bulgarian businesses in times of extremely high electricity prices, compensating 56 euros/MWh of consumed electricity in October and November. It is almost certain that the measures will remain in force in December and will continue in the new year, with the amount of compensation most likely rising to 87 euros/MWh.