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Russia postponing new nuclear reactors because of costs

Nucnet 5th Feb 2018,  Russia’s state nuclear energy corporation Rosatom is ready to postpone
the commissioning of two nuclear power units for two years in an effort to
slow down increases in energy prices, the state-owned Tass news agency
In a report which Rosatom also published on its own website, Tass
said commissioning of Novovoronezh 2-2, planned for January 2019, would be
postponed by a year, and commissioning of Leningrad 2-2, planned for
February 2020, by two years.
Tass said the decision was taken because under
a government-regulated fixed power supply agreement with wholesale
consumers, any return on nuclear investment must be at least 10.5%, which
would mean electricity prices for the consumers would increase to meet the
Fixed power supply agreements have been in place in Russia since
2008 to guarantee returns on investment in generating capacity. The final
wholesale prices are usually higher than the prevailing market price to
compensate costs incurred by the investor during construction. The
agreements include government-regulated price levels for various types of
consumer, dependent on their maximum consumption. Neither Tass nor Rosatom
gave details, although Tass said postponing commissioning of the units will
lead to a reduction in the rate of electricity price growth in 2019 from
12.9% to 11.1%.

February 9, 2018 - Posted by | business and costs, politics, Russia

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