Romanian nuclear producer Nuclearelectrica has reduced its forecast for 2026 net profit by 42.9% to €221 million. The company attributed the change to prolonged outages at Cernavoda, which have lowered electricity sales and required purchases of replacement power.
Revised financial plan for 2026
The revised financial plan is based on an assumption that both reactors will return to the network on November 1. That date is used as a planning assumption for the company’s projections. Expected electricity generation has been cut to 6,743 GWh, down from 9,080 GWh, a reduction of 2,337 GWh or about 25.7% versus the original plan.
Forecast total revenue is lowered by 14.9% to €943 million. The company said this includes a reduction of approximately €188 million in expected electricity-sales revenue. Projected expenditure increases by 3.6% to €676 million, partly reflecting the need to buy electricity to replace unavailable nuclear output.
Danube water levels disrupt cooling and reactor availability
Exceptionally low Danube water levels disrupted cooling-water availability at the Cernavoda plant. Unit 1 was taken offline on July 28, followed by Unit 2 on August 13. Both reactors have remained unavailable while authorities implement measures aimed at improving water supply conditions.
In September, Romania’s emergency authorities adopted a phased response plan addressing the prolonged decline in Danube levels. Cernavoda normally generates around 20% of Romania’s electricity, making the loss of both units significant for the national supply balance.
Cernavoda unit details and longer-term expansion plans
Each Cernavoda reactor has a capacity of approximately 700 MW. Unit 1 entered operation in 1996, with Unit 2 following in 2007. Romania is also pursuing expansion of the complex through planned Units 3 and 4.
The planned new units would add a combined 1,400 MW, with commissioning currently targeted for 2030 and 2031. The immediate financial outlook depends on restoring the existing reactors, and any extension of outages beyond the assumed November restart would expose the company to further lost production and additional replacement-electricity purchases.
