State-owned Nuclearelectrica, which operates Romania’s nuclear power plant at Cernavoda, recorded a net profit of RON 321 million (EUR 69 million) in the first nine months of this year, up by 28% compared to the same period of 2017.

The profit increase was driven by higher revenues from electricity sales, according to the company’s quarterly report.

Nuclearelectrica sold electricity worth RON 1.52 billion (EUR 326 million) in the first three quarters, up by 11.2% compared to the same period of last year.

“The quantity of electricity sold on the competitive market of bilateral contracts increased by 18% as compared to the similar period last year, and benefited from an increase of the average sale price on this market by 22%,” the company stated in its report.

At the same time, the company sold less energy on the spot market, where prices were lower compared to last year.

The Romanian state holds an 82.5% stake in Nuclearelectrica, which is currently valued on the Bucharest Stock Exchange at EUR 540 million.

editor@romania-insider.com