Nuclearelectrica achieved a net profit of 182 million lei in the first six months of this year, up 15.93% over the same period last year. Net profit represents about 60% of the net profit reported by the company for the whole of 2017 and significantly exceeds the net annual profits recorded in 2014-2016.

According to the report published on the Bucharest Stock Exchange website, operating revenues increased by 13%, influenced by the 11% increase in revenues from the sale of electricity, even though the production decreased by almost 2%.

The completion of the liberalization of the electricity market meant for Nuclearelectrica the termination of the obligation imposed by ANRE to supply electricity through regulated contracts, the report explains. The gross electricity production of the two Cernavoda NPP’s operational units was 5,413,112 MWh in the first half of 2018 (of which 2,462,486 MWh in the second quarter of 2018). Quantities of electricity sold on the competitive market of bilateral contracts accounted for a 79% share of the total volume of electricity sold, the company said.

The average sales price on bilateral contracts in the first semester was 197.68 lei/MWh, up 22% from the average price recorded in the first half of 2017, of 161.8 lei/MWh (including Tg – the grid injection tariff), as Tg in the first half of 2017 was higher by 0.29 lei/MWh. In the spot market (DAM and intra-day), Nuclearelectrica sold a quantity of electricity representing 20.6% of total sales volume, compared to a 23.7% share in the first half of 2017, at an average price of 158.73 lei/MWh (Tg included), compared to 197.37 lei/MWh (Tg included) registered in the same period of 2017.

According to the SNN report, operating expenses grew by 14.94% in the first half of 2018 compared to the same period in 2017, driven by a 37% increase in personnel spending.

SNN has planned investments of 244.8 million lei for the year 2018 and the completion ration in first semester was 30.5%, up from 21% in the first half of 2017.