Energy market
Electricity output in 2024
The gross electricity production of the two operational units of Cernavoda NPP was 10,911,981 MWh in 2024; from this gross production, the own technological consumption of the Units during operation, as well as during shutdowns ensured, from own production, was 893 thousand MWh in 2024.
Thus, the electricity generated and delivered in the National Energy System (“SEN”) was 10,018,695 MWh in 2024, compared to 2023 (10,294,203 MWh), representing a decrease by 2.7%.
The net electricity production program approved by the Board of Directors for the year 2024 (March 2024 revision) considered a quantity of 10,179,063 MWh, being achieved in proportion of 98.4%.
The installed power utilization factor, recorded by each operational unit within Cernavoda NPP in 2024, as well as in aggregate from the start of commercial operation (Unit 1 on 2 December 1996, Unit 2 on 1 November 2007) until 31 December 2024 was as follows:
Cernavoda NPP Unit | Aggregate 2024 | Aggregate since the first date of commercial operation |
Unit 1 | 80.30% | 90.23% |
Unit 2 | 96.38% | 93.88% |
The lower value of the installed power utilization factor at Cernavoda NPP Unit 1 reflects the influence of the planned outage with an effective duration of 912 hours, recorded starting on 19 May 2024 at 11:00 a.m.
Electricity sales in 2024
Electricity sales (quantities, prices and values) in 2024:
Sales by type | Quantities in MWh | % | Average price | Sale income [RON] |
Sales via MACEE | 5,110,338 | 49.85% | 447.95 | 2,289,155,390 |
Sales on the competitive market (bilateral agreements and sales on DAM and IDM), of which: | 5,077,180 | 49.52% | 452.28 | 2,299,748,142 |
– Sales under CMBC-EA Flex, CMBC- CN, CM-OTC, LCM-RCE contracts, directly negotiated contract and supply contracts | 2,598,727 | 25.35% | 476.77 | 1,238,998,048 |
– Sales on DAM and IDM | 2,478,453 | 24.18% | 427.99 | 1,060,750,094 |
Income from imbalances PE*) | 64,383 | 0.63% | 1,199.82 | 77,248,297 |
Total sales during 2024 | 10,251,901 | 100% | 455.15 | 4,666,151,829 |
*) Note: the values also include RON 5,989,301 of additional system balancing income, according to ANRE Order 213/2020
The amount of electricity sold through the Centralized electricity purchasing mechanism under contracts on the spot market (DAM and IDM) as well as on the PE market is 10,251,901 MWh, 1% below the sales schedule, of 10,352,439 MWh (measured according to the production forecast, without estimating unscheduled shutdowns) and 2.4% lower than the amount of electricity sold in 2023.
The difference between the electricity sold by the Company and the electricity generated and delivered by Cernavoda NPP (233.2 thousand MWh) is represented by the electricity purchased in order to fully cover contractual obligations, 69% of which was purchased on the spot market and 31% on the PE market.
The income gained on the electricity market related to electricity deliveries in 2024 amount to RON 4,666,151,829, 2.06% higher than the income budgeted, due to the income from imbalances and, respectively, 37.4% lower compared to the amounts gained in 2023.
The weighted average sales price for the electricity sold (without MACEE and PE) achieved in 2024 is 452.96 RON/MWh (including Tg). For comparison, the weighted average price of all transactions concluded on the markets in which SNN was active in 2024 (CMBC-EA-flex, CMBC-CN, CM-OTC, DAM and IDM), calculated based on the values published by OPCOM in the monthly market reports, is 534.49 RON/MWh. In 2023, the weighted average sales price for the energy sold (without MACEE and PE) was 944.01 RON/MWh (including Tg).
SNN is the seller under the Centralized Electricity Acquisition Mechanism (MACEE), set up under the Government Emergency Ordinance no. 153/2022. OPCOM S.A., as sole buyer, according to Article 2 and Article 3(2) of the Government Emergency Ordinance no. 153/2022, buys electricity from producers and sells it to buyers at the price of 450 RON/MWh, via the Electricity Centralized Acquisition Mechanism and 400 RON/MWh for that contracted after 1 April 2024. In 2024, SNN sold via MACEE, to OPCOM, 5,110,338 MWh.
The quantities of electricity sold on the competitive market of bilateral contracts represented in 2024 a percentage share of 25.35% of the total volume of electricity sold, compared to a percentage share of 41.42% recorded in 2023.
The average sales price on bilateral contracts during 2024 was 476.77 RON/MWh (Tg included), registering a decrease of 55% compared to the average price recorded in the previous year, of 1,059.01 RON/MWh (Tg included), provided that the value of the transmission tariff for the introduction of electricity into the network Tg amounted to 2.53 RON/MWh starting with 1 April 2022 (according to ANRE Order no. 33/23.03.2022), 4.04 RON/MWh starting with 1 April 2023 (according to ANRE Order no. 28/29.03.2023) and 3.82 RON/MWh starting with 1 January 2024 (according to ANRE Order no. 109/20.12.2023).
In 2024, electricity amounting to 24.18% of the total sales value was sold on the spot market (DAM and IDM), as compared to 11.14% in 2023. The average sale price of energy on the spot market (DAM and IDM) achieved by SNN in 2024 was 427.99 RON/MWh (Tg included), as compared to 516.48 RON/MWh (Tg included) during the previous year.