Rosatom could cut funding for nuclear plants 32.3% in 2015 - Econ Ministry
MOSCOW. Feb 17 (Interfax) - The state Rosatom corporation could cut funding for a program to expand the capacity of nuclear power plants by 32.3% this year, the Economic Development Ministry said in its updated socioeconomic forecast.
The cut in the nuclear power plant expansion program will be one of the main factors behind an overall 17% cut in power industry investment this year. If the government's anti-crisis package is not delivered, a further 4% cut is possible.
The cut in investment is also driven by the rising cost of imported equipment and parts amid higher interest rates on loans. This will result in some projects being abandoned. As demand for electricity falls, companies might decide to delay the introduction of capacity under construction and the construction of new capacity.
The key investment projects in 2015 are the reactor power start-ups of the Beloyarsk NPP's No 4 unit and Rostov NPP's No. 3 unit; and the launch of the Zagorsk-2 pumped storage power plant, the Econ Ministry said.
It was reported at the end of last year that the Rosenergoatom concern, which operates Russia's nuclear plants, would invest 180 billion-190 billion rubles of a planned 200 billion rubles this year, in other words state financing could fall 10%.
The Energy Ministry has considered scaling down Rosenergoatom's investment program in connection with a forecast drop in output.