SN Nuclearelectrica SA, an electric power producer on the electric power market in Romania, sells on the wholesale market the electric power produced by the two units of the Cernavoda NPP. Starting with 1st of January 2018, the energy market has been fully liberalized in Romania, thus SNN sells its entire production on the competitive market.
On the competitive market, sales are subject to compliance with the requirements of Law No. 123/2012 of electricity and natural gases based on public and non-discriminatory offers awarded through auctions organized by OPCOM – operator of the electricity and gas market in Romania.
The electricity was sold based on production license, as follows:
- On the competitive market through sale-purchase contracts on the markets administrated by the market operator OPCOM S.A.: mainly PCCB – LE si PCCB – NC (centralized market for bilateral contracts;the method of transaction of the extended tender contracts/transaction method according to which the contracts are distributed by continuous negotiations), PZU (the following day market) and PCSU (the centralized market for universal service);
- On theBalancing market administered byTranselectrica, in case of positive unbalance;
- Through negotiated sale-purchase contracts. Nuclearelectrica has only one such contract concluded with Transelectrica in the quality of captive consumer for the consumption of the Cernavoda 400 kV station (approximately 1.000 MWh/year).
SNN on the energy market during 1 January – 31 March 2018
During the three months period concluded on 31 March 2018, the Company did not sell energy on the regulated market (11% during the first three months of 2017), registering an increase of 12% of the quantity of energy sold on the competitive market compared to the similar period of the previous year. Compared to the same period of last year, the quantity of energy sold on the competitive market for bilateral contracts increased by 11%, capitalizing on an incrase of the average sale prices on this market of 24% (price without Tg) while the quantity of energy sold on the spot market (PZU) increased with 17% while the average price on this market was lower by 32% (price without Tg).
The electricity quantity sold based on contracts, on the spot market (PZU) and on PE is 2,765,079 MWh, with 0.07% less than the sales program, of 2,767,094 MWh (sized on the production estimate, without estimating unplanned outages) and 0.87% less than the electricity quantity sold in Q1 of 2017. The difference between the electricity sold by the Company and the electricity produced and delivered by CNE Cernavoda is represented by the electricity purchased for fully covered the contractual obligations, an electricity quantity that was purchased 74% from PE and the rest from PZU.
The revenues obtained from the electricity market related to electricity deliveries in Q1 2018 are 541,982,221 lei (out of which 12,801 lei represents redistributed revenues resulted from balancing the system, based on the application of ANRE Order no. 51/2016 and ANRE Order no. 76/2017), 2.39% lower than the budget revenues for Q1 2018, and 11.4% higher than the same period of the previous year.