Romanian nuclear operator Nuclearelectrica has reduced its forecast for 2026 net profit by 42.9% to €221 million, citing prolonged outages at the Cernavoda plant. The company said the disruption lowers electricity sales and requires purchases of replacement power.
The revised financial plan is based on an assumption that both reactors will return to the grid on November 1. That date is used as a planning reference for the projections.
2026 revenue, generation and cost changes
Expected electricity generation has been cut to 6,743 GWh, down from 9,080 GWh, for a reduction of 2,337 GWh. The company described the change as about a 25.7% decline versus the original plan.
Forecast total revenue is lowered by 14.9% to €943 million. The revision includes a reduction of approximately €188 million in expected electricity-sales revenue.
Projected expenditure is increased by 3.6% to €676 million. The higher costs are partly linked to the need to buy electricity to replace unavailable nuclear output.
Danube water levels and reactor availability
Exceptionally low Danube water levels affected cooling-water availability at the Cernavoda site. Unit 1 was taken offline on July 28, followed by Unit 2 on August 13.
The two reactors 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 typically produces around 20% of Romania’s electricity, so the loss of both units affects the national supply balance. Each reactor has an approximate capacity of 700 MW.
Cernavoda units and planned expansion timeline
Unit 1 entered operation in 1996, with Unit 2 starting in 2007. Romania is also pursuing expansion of the complex through planned Units 3 and 4.
The planned additions would add a combined 1,400 MW, with commissioning currently targeted for 2030 and 2031. The near-term financial outlook depends on restoring the existing reactors.
If outages extend beyond the assumed November restart date, Nuclearelectrica would face further lost production and additional replacement-electricity purchases.
