Blue Coalition Report Says Belene N-plant Will Cost Double Initial Estimates

The Belene N-plant will cost over 11
billion euro, which is double the initial estimates, said
Wednesday Blue Coalition Co-floor leader Martin Dimitrov,
presenting an assessment report of the plant by the Institute
for Market Economy.

Krasen Stanchev, head of the team that drew up the report, said
that electricity generated from Belene will cost 14 eurocents
per KWh, and 16 eurocents respectively when investor profit is
included.

If Belene produces power at such cost, the price of electricity
will increase by nearly 50 per cent, said Dimitrov. The Blue
Coalition leader said that in terms of seismic risk Belene is
the riskiest nuclear power facility in the European Union. "We
believe that Belene is the Trojan horse by which Russia is
trying to take over Bulgaria's energy sector. Bulgaria will not
be able to repay the loans extended by Russia and ultimately
Russia will acquire ownership over the better part of Bulgaria's
economy," said Dimitrov.

Stanchev said that in order for Belene to be implemented, the
government will have to sacrifice the Kozloduy N-plant, wind
energy, the thermal power plants Maritza East, Bobovdol, Varna,
Rousse and the Maritza Iztok mines in the long run. Stanchev
added that there will be no markets for the power generated from
Bulgaria's second N-plant.

MP Ivan Ivanov said that the Blue Coalition will urge the
government to suspend the signing of contracts and annexes on
Belene until the European Commission draws up a list of measures
that will guarantee the health and life of the Bulgarian
citizens by improving safety standards at Kozloduy and Belene.

The construction of Belene will not be to the detriment of the
public. The price that has been agreed is the cheapest for a
third generation nuclear facility, said GERB
deputy floor leader Valentin Nikolov, speaking to journalists in
Parliament. GERB said that figures released by the Blue
Coalition are unjustified and speculative.
The maximum price envisaged in the memorandum with Russia is
6.280 billion euro, while NEK has to build the infrastructure
that will cost 800 million euro, said Nikolov.

He said that Bulgaria will not spend a single lev from the
budget nor it would extend state loan guarantees for the
construction. On the other hand, the state will have a 51 per
cent interest stake in Belene, which will is expected to make a
profit in 10 years.

GERB underscored that Belene will have third-generation-plus
reactors. Dian Chervenkondev said that next to Japan's
Fukushima, Belene is like a modern car compared to a 60s car.

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