Bulgaria's NPP Kozloduy halves 9-mo net profit

Kozloduy's electricity sales revenue declined to 1.9 billion in the January-September period from some 5.07 billion levs in the same period of 2022, the nuclear power plant operator said in a preliminary standalone financial statement published on the website of parent company Bulgarian Energy Holding (BEH).

Expenses for hired services went up by an annual 13% to 144.8 million levs, while personnel costs rose close to 17% to 200.8 million levs. Expenses for materials were without notable change at some 80.3 million levs.

Kozloduy’s total assets increased to some 4.07 billion levs at the end of September from 4.04 billion levs at the end of 2022, according to the financial statement.

NPP Kozloduy operates two units of 1,000 MW each, which receive fresh nuclear fuel from Russian company TVEL. Bulgaria's nuclear energy regulator is in the process of assessing an application for licence for using compatible fuel under contract with US corporation Westinghouse. The two units' operational licences will expire in 2027 and 2029, respectively.

Last month, the Bulgarian government said it will invest 500 million levs in the construction of a new unit at Kozloduy with AP1000 technology provided by Westinghouse. A second unit deploying the same technology is expected to be completed in the middle of the next decade.

(1 euro = 1.95583 levs)