Romania: Increased profit at Nuclearelectrica in 2020, SEE Energy News
Romanian electricity producer Nuclearelectrica recorded a net profit in the amount of 98 million euros in the first nine months of 2020 which is 14.8 % higher compared to the same period last year. The company’s operating profit (EBITDA) increased by 1.1 % compared to the same period of 2019. The increase was caused by a decrease in operating expenses, less depreciation and amortization by 5 %, partially offset by a decrease in operating income of 1.8 %, influenced by a 2.2 % decrease in electricity sales revenues. The operating income decreased by 1.8 %, determined by the 3.2 % increase in the weighted average price of the electricity sold in the period between 1 January and 30 September, compared to the weighted average price from the same period of 2019, considering that electricity sales rose by 1.2 %.
The gross production of electricity of the two units of nuclear power plant Cernavoda amounted to 8,354,013 MWh in the first nine months of the year (of which 2,389,939 MWh in the third quarter alone), with net production reaching 7,684,000 MWh, which is 2.1 % more than in the same period last year. The company said it plans to invest around 64 million euros in 2020, mainly in upgrade works at NPP Cernavoda. So far, it has completed 51 % of the planned investment for the year.