Romania: Profit increase at Nuclearelectrica in first half of the year

, SEE Energy News

In the first half of 2020, Romanian electricity producer Nuclearelectrica, recorded a net profit in the amount of 70.8 million euros, which is 18.1 % more compared to the same period last year. The company said it plans to invest 64 million euros this year, mainly in upgrade works at NPP Cernavoda.

The company’s operating profit increased by 4.4 % year-on-year to 137.8 million euros in the first six months of the year, mostly due to a 9.4 % annual drop in operating expenses.

Nuclearelectrica generated about 5.49 million MWh of electricity in January-June 2020 period, which is 11.8 % more compared to the same period in 2019. Electricity sales contributed 240 million euros in revenues in the first half of the year, down 2 % year-on-year.

So far, the company has completed 19 % of the planned investment for the year, due to the coronavirus pandemic, which led to the rescheduling of some investment projects.