High electricity prices on the free market have provided a nearly 200 percent increase in the profit of Kozloduy NPP for the first nine months of 2021, according to the financial report of the nuclear power plant.
The company ended the period with 718 BGN million net profit, while a year earlier it was 245 BGN million. The growth is 193.1 percent compared to the first nine months of 2020. This is due to significantly increased revenues from the sale of electricity on the power exchange.
It is clear from the report that the plant paid a dividend of 608 BGN million to its parent company, the Bulgarian Energy Holding, during the year. 138 BGN million of the amount is a dividend for last year, and the remaining 470 BGN million are deductions – in February 220 BGN million at the expense of the Other Reserves Fund and in August 250 BGN million at the expense of retained earnings from previous years and the fund “Other reserves”. With these dividends, the government covered the compensations program for business consumers paying 110 BGN/MWh in October and November.
At the same time, the Bulgarian Energy Holding (BEH) has increased its net profit by 280% since the beginning of the year, according to an unaudited report by the state-owned company. The data show that as of September 30, 2021, BEH`s profit reached 838 BGN million, compared to 220.4 BGN million for the same period last year. Revenues from operations also increased to 6.45 BGN billion, compared to 3.98 BGN billion, or 62% increase on an annual basis. Expenditures increased by 55% to 4.97 BGN billion.
Sources: Mediapool, Investor.bg