Rosenergoatom makes 2.9 bln rubles in 2011 net losses
MOSCOW. March 6 (Interfax) - OJSC Rosenergoatom, which operates all Russia's nuclear power plants and is part of state nuclear power corporation Rosatom, made 2.9 billion rubles in net losses last year versus profits the year before, the concern reported.
Rosenergoatom turned 21.7 billion rubles in net profits in 2010.
The concern's sales revenues declined 4.2% to 201.4 billion rubles.
Production costs went up 23.4% to 109.3 billion rubles.
Pretax profits dropped almost 95% to 1.5 billion rubles.
Company chief Yevgeny Romanov said Rosenergoatom had lost out on around 19 billion rubles in sales revenue last year - 12 billion from reduced additional charges to capacity price intended for investment on safety measures; around 2 billion due to competitive selection for the current year; and another 5 billion from operations on the day-forward market, which was a result of low prices for electric power.
Some of the revenue the company missed out on was offset with a drop in production costs (2 billion rubles), and the rest with increased credit resources.