Romania, Nuclearelectrica targets a 40 % higher net profit for 2021

, SEE Energy News

Romanian electricity producer Nuclearelectrica, the operator of the country’s sole nuclear power plant Cernavoda, targets a 40 % higher net profit for 2021, compared to the previous plan, mainly due to the increase in electricity prices.

The target is included in the new revised business plan for 2021, which will be on the agenda of the upcoming shareholders’ meeting.

According to revised plan, Nuclearelectrica would end this year with a net profit of some 160 million euros, 40.7 % higher than the initially budgeted for this year. If the new target is achieved, the profit will be over 15 % above the level posted in 2020, which was also 28 % higher compared to 2019 profit.

The outlook of the energy sector as a whole is also supportive of the investors’ expectations, which pushed up the company’s shares since the beginning of the year. The shares’ value rose by 107 % year to date.