Nuclearelectrica, one of the main power producers in Romania, posted 33% higher profit in the first quarter, compared with the same time in 2008 and 4.5% higher turnover, whereas the consumption of power fell by 10.7% on the entire market.
For the next few months, Nuclearelectrica’s management is considering several ways to maintain the upward trend of its results: contract renegotiation, entry on eligible consumer market, which means supplying major industrial companies directly, and energy export.
Nuclearelectrica is not the only state-owned producer that might apply such a strategy and enter the eligible consumer market, with the first step already taken by the Craiova Energy Complex, which has been selling power to Petrom since last year. Nuclearelectrica operates one of the most competitive electrical power generation prices, and the entry of such a player on the eligible consumer market could pose a significant challenge to the energy traders, especially in the current consumption decline context.
"We are thinking of supplying eligible consumers too. That was not the case until now, because 70% of the energy we produce goes to the regulated market (household consumers and small industrial consumers where the prices regulated by the National Energy Regulatory Agency apply), but now this is a solution we are considering," says Pompiliu Budulan, chief executive of Nuclearelectrica.
Nuclearelectrica’s energy sales are currently going to the major energy distribution and supply companies such as Electrica, CEZ Romania and Enel, which in turn resell the power to captive or eligible consumers.
"We need a constant consumer (that uses the same amount of power day and night i.e.), and there are few such consumers. Alro, ArcelorMittal – even they are having problems now. I have to be able to sell my power constantly, because this is how reactors work. I cannot take this lightly," Budulan adds.
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