In the first six months of 2026, Romania’s Nuclearelectrica (BVB: SNN), the operator of the country’s sole nuclear energy plant, obtained a net profit of RON 1.18 billion (EUR 225 million), up 36.6% compared with the same period last year, according to the company’s financial report published on the Bucharest Stock Exchange.
Operating profit increased by 33.7% compared with the same period of the previous year, mainly driven by higher electricity sales revenues (+2.7%) and the elimination of the contribution to the Energy Transition Fund, or CFTE.
“These favorable factors were partially offset by the increase in operating expenses (excluding depreciation and impairment) by approximately 15.3% (+164,048 thousand RON) compared with the same period of the previous year,” the company stated in the report.
Operating revenues increased by 2.0%, mainly as a result of the increase in revenues from electricity sales by 2.7%, determined by the 12.7% increase in the weighted average price of electricity sold during the period 1 January – 30 June 2026 compared with the weighted average price in the same period of 2025, under conditions in which the total quantity of electricity sold was 11.7% lower.
Operating expenses, excluding impairment, depreciation, amortization, and CFTE, increased by 15.3% in the period 1 January – 30 June 2026 compared with the same period of the previous year. This increase is mainly driven by the approximately 61% increase in electricity purchase costs, the approximately 20% increase in repair and maintenance expenses, and the 18% increase in other operating expenses (due to the increase in the ANDR contribution for decommissioning).
Net financial result increased by 23% as a result of the fact that in the period 1 January – 30 June 2026, financial revenues 48.4% higher than in the similar period of the previous year were recorded, represented by interest income and favorable exchange rate differences. Net corporate income tax expense increased by 36.2% as a result of the increase in taxable profit calculated for the reporting period compared with that calculated for the previous similar period, also influenced by the impact of net corporate income tax expense, which includes both current income tax and deferred tax.
Nuclearelectrica, primarily owned by the Romanian state, had to shut down its plant on Thursday, August 13, because of the low level of the Danube. Without nuclear energy, which ensured roughly 20% of Romania’s consumption, the country will have to reduce consumption and increase expensive energy imports, especially in the evening.
The shutdown is expected to hit the company’s revenues. Through a stock exchange announcement issued on Tuesday, August 11, Nuclearelectrica drew attention to a series of Notices of the Existence of a Force Majeure Event by the Constanța Chamber of Commerce, Industry, Navigation and Agriculture (CCINA), applicable in the case of electricity supply contracts. This means that the company may not be able to fulfill contractual obligations.
(Photo source: company photo)
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