Nuclearelectrica’ s net profit down by 51 pct in the first nine months of 2016

Newsroom 10/11/2016 | 09:32

State-owned nuclear power producer Nuclearelectrica registered a net profit of RON 64.5 million in the first nine months of the year, which 51 percent lower compared with the same period of 2015, according to a statement submitted to the Bucharest Stock Exchange (BVB).

On the other hand, in the third quarter it recovered the operational loss of RON 37.8 million registered in the first quarter.

The revenues from the energy sales dropped by 5 percent, mainly as a result of the 4 percent drop in the sold energy (approximately 336,000 MWh), based on the planned block of the Unit 1 which took place this year, says the release. In 2015, the planned block of the Unit 2 had an effective length of 24.8 days, while the planned block of Unit 1 had 51 days, which determined the drop in the sold quantity by 7.09 percent at June 30.

The impact of the drop in energy quantity caused by the extension of the planned stoppage of the unit by taking into account the additional nuclear fuel expenses necessary for the production supplement, amounting to RON 52,000, which is the unrealized operational profit, says Nuclearelectrica.

The level of investments program for this year was 38.75 percent, taking into account that the total value of the investments program of Nuclearelectrica in 2016 was RON 255.4 million.