NPP CLOSURE RESULTS IN FINANCIAL LOSS FOR BULGARIA

09:00 Tue 11 Apr 2006

The closure of two Kozlodui nuclear power plant reactors will lead to a loss of more than 1.6 billion euro for Bulgaria’s energy sector.

Additional sums varying between 250 and 750 million euro will be lost due to the inability of Bulgaria to trade larger energy volumes, Economy Minister Roumen Ovcharov said yesterday.

After January 1 2007, the Kozlodui exploitation expenditure will reach 590 million euro, an expert analysis shows. The power plant has to invest more than 600 million euro in other projects, Darik radio reported.

The closure of blocks will lead to increases in the price of electricity, Ovcharov said. Higher electricity prices will also affect inflation levels through the expected increase in the prices of other goods and services.

According to government analysis household incomes will decrease due to the expensive electricity, bringing consumption down.

Comments

Comments by Jan Haverkamp -- Greenpeace - 21:21 11 Apr 2006
	"NPP CLOSURE FINANCIAL LOSS"... I am surprised that anybody - even journalists - still believe this propaganda trick. Kozloduy blocks 3 and 4 need to close. Bulgaria knows this already for 10 years. It has prepared itself for it - and quite well: it created so much replacement power that it could export large quantities last years. The capacity is already replaced! Yes - if i would have 10 kg of gold, and i could sell it, i would be rich. You know what? I don't have 10 kg of gold - so i will earn less? Bulgaria does not have Kozloduy 3 and 4 next year. These are dangerous blocks - the country took an extra risk to keep them open until EU entry. There it stops. Ovcharov should finally stop whining and start working on a real energy policy: energy efficiency and the fast development of renewables - that is the only solution to prepare Bulgaria for an energy secure and safe future with economic growth.