It said it lowered expenses by 14.4%, to RON378.45 million, during this period.
Exploitation revenue declined 2.3% on the year in the first quarter, to RON457.7 million, while financial revenue grew nearly 28%, to RON10.3 million.
The company said it sold RON456.17 million worth of electricity in the first quarter, at an average sale price of RON162.77 per MWh.
Nuclearelectrica invested RON9.07 million in the first quarter, half of which went into the upgrade of a water treatment station.
It said it spend RON505 million by end-March on the project to build two nuclear reactors at its nuclear power plant and has earmarked RON832 million more. Nuclearelectrica and China General Nuclear signed a memorandum of understanding for the reactor project in November 2015 and authorities said at that time construction works should start within two years. The Chinese investor will hold at least 51% of the venture, while Nuclearelectrica will hold at least 30%.
Nuclearelectrica operates Romania’s sole nuclear power plant. Located in Cernavoda in the country’s southeast, the plant currently operates two 700-megawatt reactors, meeting around 20% of the country’s energy consumption.
Nuclearelectrica is 82.9% owned by the Romanian government and 9% owned by investment fund Fondul Proprietatea.