Nuclearelectrica reports net profit of 563 million RON, down 26.5 percent in Q1

Nuclearelectrica has announced its financial results for the first quarter of 2024. In the 3 month period ended on 31 March 2024, the company obtained a net profit of 563.2 million RON, down 26.5 percent compared to the same period in 2023.

The gross electricity production of the two operational units of Cernavodă NPP was 3,000,292 MWh in the first quarter of 2024 (of which 2,998,845 MWh in the first quarter of 2023); from this gross production, the own technological consumption of the Units during operation was 232 thousand MWh during the first quarter of 2024 (of which 229 thousand MWh in the first quarter of 2023).

In the first quarter of 2024, the amount of electricity produced and delivered in the SEN was 2,767,990 MWh, down by 0.06% compared to the level recorded in the first quarter of 2023 of 2,769,639 MWh.

The net electricity production program approved by the Board of Directors for the year 2024 (March 2024 revision) considered a quantity of 10,179,063 MWh; for the first quarter of 2024, a quantity of 2,747,369 MWh is expected, being achieved in a proportion of 100.7%.

The total value of SNN’s investment program for the year 2024 is RON 1,599,362 thousand (without the component allocated to the payment of debt service related to long-term loans), investment program approved by Resolution no. 1/28.02.2024 of the Ordinary General Meeting of SNN SA Shareholders.

The 2024 investment programme of SNN includes the necessary investments within the Cernavodă NPP Branch, the Pitești NFP Branch and the Central Headquarters estimated to be completed by the end of 2024, as well as investment objectives to be completed in the following years.

When sizing the investment development program, S.N. Nuclearelectrica S.A. took into account the need of the branches (Cernavodă NPP and Pitești NFP) regarding production continuity, respectively reaching the highest possible level of production capacity utilization (EAF – Energy Availability Factor) in compliance with the nuclear safety regulations and with the long-term maintenance of the level of excellence in the operation of the plant.

At the same time, the development program also responds to the need to modernize/upgrade some of the plant’s systems, which for economic reasons (reductions in specific consumption, improvement of certain characteristic parameters of the processes served, with a positive impact on efficiency), and for legal reasons, require the implementation of certain improvements associated with nuclear safety, environmental protection and work safety, these representing imperative requirements, coming from the 5 regulatory authorities in the field.