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NPP CLOSURE RESULTS IN FINANCIAL LOSS FOR BULGARIA

Tue, Apr 11 2006 09:00 CET 385 Views

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.

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