Russia Forces Bulgaria to Pay for Part of Unwanted Nuclear Power Station
The International Chamber of Commerce just ruled that Bulgaria’s state energy firm NEK must pay around 550 million euros ($620 million) to Russian State owned-controlled Atomstroyexport for equipment supposedly already produced for the cancelled Belene nuclear power project (See Reuters 16 Jun 2016). This is about 0.5% of Bulgaria’s GDP ($123.9 billion 2014 https://en.wikipedia.org/wiki/Economy_of_Bulgaria) And, it will eventually be paid for by the taxpayer. To complete the power station would have a cost estimated at 10 billion euros seven years ago or almost 10% of GDP.
What it probably really means is that Bulgaria’s being pushed to buy an updated Soviet VVER, possibly for Kozloduy instead of Belene. Russia had asked for $1.2 billion probably knowing that they would get half of what they asked for as a “compromise”. Russia is already leveraged into the “market” because now Bulgaria must decide what to do with whatever reactor parts Russia alleges…
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