TVEL Acting President Anton Badenkov, left, and Energoatom President Andrey Derkach
Photo: Konstantin Ilyanok
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Ukraine Forced Russia to Give Nuclear Discount
Russia’s TVEL and Ukrainian Energoatom sealed a contract for fuel rod supplies to the nuclear plants of Ukraine in 2007, which terms are very beneficial for Kiev. Despite the annual surge of 120 percent in uranium prices, the nuclear plants of Ukraine will face the price increase of just 30 percent to 40 percent.
TVEL and Energoatom signed the contract in Kiev late Monday. The negotiations, the sources said, were expected to surge prices for deliveries on the rise in global prices for uranium.
Neither TVEL nor Energoatom have commented on the contract prices, referring to the commercial secret. But according to the sources, the price for Russia’s fuel rod arrays will go up by 30 percent to 40 percent for the nuclear plants of Ukraine. The increase will be less than the price growth for Russia’s gas supplied to Ukraine (42 percent to 45 percent), a source with Ukrainian Fuel and Energy Ministry confirmed yesterday.
Nuclear plants accounted for 46.7 percent of all energy produced in Ukraine past year.
TVEL won the tender for fuel rod supplies to Energoatom in 1996. The contract will remain in force till 2010, but its prices are revised once a year.
Of interest is that it was Ukraine that had to make concessions January 2006. Then, Energoatom yielded to revision despite that the prices were deemed fixed till 2010. This year, however, TVEL has agreed to compromise - Ukraine covers over 30 percent of the foreign contract portfolio of this company.
www.kommersant.com
All the Article in Russian as of Jan. 17, 2007
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