Nuclearelectrica (SNN) recorded a net profit of over 64.5 million lei in the first nine months of this year, down by 51% compared to the same period in 2015, according to a statement sent to the Bucharest Stock Exchange (BVB).

“In Q3 2016, SNN has recovered the operational loss registered on June 30, 2016 and obtained on 30.09.2016 a net profit of 64.543 thousand lei,” it is said in the statement.

According to the quoted source, this was a result of the following factors: the extension of the planned outage of Cernavoda NPP Unit 1, sale income and price evolution, the negative influence of the net differences in currency exchange rates.

“The quantity of energy sold on regulated contracts, on the free market and balancing market is 7.622 GWh, 1,46% above the sale program of 7.512 GWh. The sale revenues for the energy deliveries during January-September 2016 are of 1.179.623.453 lei, 2,82% lower than the value proposed for the 2016 Budget (the January-September 2016 period) and 8% lower compared to the same period of last year result,” informs SNN.

The weighted average sale price for the energy quantities sold (without the balancing market) has decreased by -4% (-2% in QIII 2016) from 161,5 lei/MWh in the first nine months of (Q III 2015: 159,25 lei/MWh) to 155,05 lei/MWh including T G in the first nine months of 2016 (Q III 2016: 156,72 lei/MWh).

“In the first nine months of 2016, the PZU (next day market – editor note) prices were in average lower than the prices of the contracts concluded by SNN, mainly during February-August 2016. PZU average price published by OPCOM, registered in the first nine months of 2016 decresead by 12,4% compared to the price registered in the same period of last year, while the average price on the PZU market achieved by SNN in the same period decreased by 2,79% compared to the same period of the previous year. Thus, SNN registered a smaller decrease on the PZU market compared to the decrease on the market,” said the mentioned source.

In regard with the investment program for 2016, in total value of 255,394 million lei, approved by a resolution of the Ordinary General Meeting of Shareholders, is part of the Revenues and Expenses Budget.

As in the previous years, long term investment projects (on going) have the largest share in the investment program. The value of the investments in progress amounts to 177,844 million lei.

„As per the resolution no. 8/17.10.2016 of the Extraordinary General Meeting of Shareholders approved the the continuation of negotiations on the Investment Documents related to the Memorandum of Understanding regarding the development, construction, operation and deccommissioning of Cernavoda NPP Units 3 and 4 („MoU”) under the same conditions until 20 December 2016, by applying all the provisions of the MoU”, says the statement.

Unit 1 Failure

However, Unit 1 of the Cernavoda Nuclear Power Plant has been disconnected on Tuesday at 3:37 p.m., the National Energy System due to a fault in the exhaust power line of 400KV into SEN, informs a press release of Nuclearelectrica, quoted by Agerpres.

“This failure occurred because of bad weather in the area, which led to the automatic disconnection of the turbogenerator of Unit 1 from the SEN. Following the reduction of power amid the disconnection of the turbogenerator from the network, the specialists of Cernavoda NPP noted the need to conduct additional works, which, according to the plant procedures, can only be achieved with the reactor being switched off,” said the company representatives, pointing out that Unit 1 will be reconnected to the SEN after the completion of works, according to Agerpres.

The Nuclearelectrica representatives noted that the plant systems operate as designed and there is no impact upon the nuclear safety of the reactor, the operating personnel, the population and the environment.