Nuclearelectrica reached net profit of 415 million RON in the first nine months of 2019, up by 30 percent

In the first nine months ended on September 2019, SNN Nuclearelectrica registered a net profit of 415 million RON, 29,6% higher than the same period of last year, according to its financial results. EBIT increased by 36,3%, while EBITDA increased by 17,3% compared to the similar period of last year, mainly as a result of 15% higher operation revenues influenced by the 16,6% increase in sales.

The Operational profit (EBITDA) increased by 17.3% as compared to the same period of the previous year, mainly following the increase of operational revenues by 15%, influenced by the increase by 16,6% of the revenues from the sale of electricity.

The operating income increased by 15%, determined by the 17% increase in the weighted average price of the electricity sold during the period January 1 – September 30, 2019, as compared to the weighted average price in the same period of 2018, considering the sale of a total quantity of electricity during the period January 1 – September 30, 2019 similar to the total quantity sold during the period January 1 – September 30, 2018 (only 1% decrease).

As compared to the same period of the previous year, the quantity of electricity sold on the competition market of bilateral contracts decreased by 2%, and benefited from an increase of the average sale price on this market by 16% (price without Tg), while the electricity quantity sold on the spot market (PZU) decreased by 33%, considering an average sale price on this market higher by 32% (price without Tg) was registered.

Also, in the 9-months period that ended on September 30, 2019, the Company sold approximately 7.4% of the energy on the regulated market (the Company did not sell energy on the regulated market in the 9-months period that ended as of September 30, 2018), at regulated price.

For the year 2019, in order to comply with the provisions of the Government Emergency Ordinance no. 114/28.12.2018, ANRE issued Decision no. 326/2019, by which it established a quantity of energy to be sold by SNN on regulated contracts of 1,377 GWh (out of which 558.9 GWh for the period January 1 – September 30, 2019), and for the following years, the sales obligations based on regulated contracts for SNN to be set at a maximum level of 65% of the amount of electricity delivered. Also, ANRE established by said Decision the regulated price that must be used in 2019, i.e. 188.33 RON/MWh, value which does not include the tariff for electric energy transmission service paid to Transelectrica S.A. for the introduction of electricity in the electricity transmission network.