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.
Operating profit (EBITDA) decreased by 19.7% compared to the same period last year, significantly influenced by a 44.5% decrease in sold electricity prices, for a similar amount of electricity sold.
Operating income decreased by 43.1%, mainly due to the 44.5% decrease in income from sales of electricity, determined by the same decrease in the weighted average price of the electricity sold during 1 January – 31 March 2024, compared to the weighted average price from the same period of 2023, considering the sale of a similar total amount of electricity.
The amount of electricity sold by SNN on the spot market (DAM and IDM) in the first 3 month of 2024 increased by 163.6%, accounting for 30.81% of the total sold quantity, and the average sale price on this market decreased by 43% (price without Tg).
The cost of the contribution to the Energy Transition Fund for the period 1 January – 31 March 2024 decreased by 100% (1 January – 31 March 2023: 840.842 thousand lei), as a result of the decrease in sales prices below the regulated level for which the contribution is calculated and due.
Operating expenses, less depreciation and impairment, increased by 35.7% during the period 01 January – 31 March 2024 compared to the same period of 2023. This increase is driven by the increase in positive imbalance (surplus) expenses at negative prices in the balancing market, driven by the new invoicing mode introduced by CIGA.
The weighted average sales price for the electricity sold (without MACEE and PE) achieved in Q1 2024 is 354.52 RON/MWh (including Tg). For comparison, the weighted average price of all transactions concluded on the markets in which SNN was active in 2024 (CMBC-EA-flex, CMBC-CN, CM-OTC, DAM and IDM), calculated based on the values published by OPCOM in the monthly market reports, is 357.79 RON/MWh. In Q1 2023, the weighted average sales price for the energy sold (without PE) was 1,000.89 RON/MWh (including Tg).
(English version by Catalina Apostoiu)