Romania's Nuclearelectrica 9-month net profit falls 68 pct y/y

Fri Nov 14, 2014 5:45pm GMT
 

BUCHAREST Nov 14 (Reuters) - Romania's state-owned nuclear power producer Nuclearelectrica recorded a net profit of 99.8 million lei ($28.2 million) in the first nine months, down 68 percent on the year, due to a drop in sale prices and higher taxes, it said on Friday.

Depressed consumption has led to a fall in elecricity sales this year, and the company's operations were also hit in the first half by a newly introduced tax on special buildings, which slapped a 1.5 percent charge on the value of buildings owned by companies, from oil wells to warehouses to electricity poles.

The European Union state's energy regulator ANRE ultimately recognised the costs but only for the second half, Nuclearelectrica said.

The company accounts for a fifth of Romania's electricity production through its two nuclear reactors on the Danube river. ($1 = 3.5341 Romanian lei) (Reporting by Luiza Ilie)

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