Nuclearelectrica (BVB: SNN), which operates Romania’s nuclear plant located at Cernavoda, announced that its net profit rose to RON 819 mln (EUR 162 mln) in Q1, 3.5 times more compared to the same period last year.

Total revenues increased by 165% YoY to RON 1.86 bln, mainly due to higher electricity prices in the last year - as the nuke power plant’s outcome is roughly flat. The revenues were some 26% higher than the target.

The gross electricity production of the two operational units of Cernavoda nuke was 3.02 TWh in Q1 this year. From this gross production, the own technological consumption of the units was 0.23TWh.

The average price of the electricity sold under bilateral contracts (81% of the total in Q1, 2022) rose by 127.5% YoY to RON 563 per MWh, while the average price of electricity sold on the spot market (19% of total) soared four times YoY to RON 1,068 per MWh, in the first quarter of this year.

andrei@romania-insider.com

(Photo source: Nuclearelectrica.ro)