Bulgaria, NPP Kozloduy recorded a net profit in the amount of 488 million euros in Q1 2022

, SEE Energy News

Bulgaria’s sole nuclear power plant Kozloduy recorded a net profit in the amount of 488 million euros in the first quarter of 2022, compared to a profit of 70.4 million euros in the same period last year .

The record quarterly profit is the effect of increased electricity prices, which rose from 50 euros/MWh in the first quarter of 2021 to over 250 euros/MWh in March 2022. Therefore, revenues from the sales of electricity amounted to 750 million euros in Q1 2022, compared to 195 million euros a year ago.

However, due to ongoing Government’s support measures to Bulgarian economy, the majority of the profit will be used by the state to cover the compensations paid to businesses to offset high energy prices.