August 14, 2014 / 7:43 AM / 6 years ago

Romania's Nuclearelectrica profit falls 69 pct y/y

BUCHAREST, Aug 14 (Reuters) - Romania’s state-owned nuclear plant Nuclearelectrica recorded a net profit of 60.4 million lei ($18.2 million) in the first half of the year, down 69 percent on the year, due to a drop in sale prices and higher taxes, it said on Thursday.

A new tax on property was approved by the leftist government late last year. It has been criticised by businesses as it slaps a 1.5 percent charge on the value of special buildings owned by companies, from oil wells to warehouses to electricity poles.

“The decrease in net profit is mainly caused by the lower selling prices on competitive markets (-20 perecent year on year) and by the impact of tax on special construction,” Nuclearelectrica CEO Daniela Lulache said in a statement.

The company accounts for a fifth of the European Union state’s electricity production. (Reporting by Radu Marinas)

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