Draft decision on early end to Inter RAO management of Armenian NPP passes to gov't
YEREVAN. Jan 17 (Interfax) - The draft decision on terminating the agreement with Russian energy company Inter RAO UES on financially managing the Armenian Nuclear Power Plant (NPP) has passed from the Armenian Energy and Natural Resources Ministry to the government, Energy and Natural Resources Minister Armen Movsisyan's press secretary Lusine Arutyunyan told Interfax.
After the decision is approved, the government will have to order Movsisyan to terminate the agreement, and later to put the responsibility of managing the NPP on the Energy Ministry, she said.
At a December 22 press conference, Movsisyan said that Inter RAO would cease managing the Armenian NPP's finances on January 1, 2012. Although the management agreement was set to expire in September 2013, it will be terminated prematurely, since it is no longer needed and since the authorities are in the position to manage the NPP on their own.
"When the NPP accumulated $40-$50 million in debt for nuclear fuel supplies in 2003, Inter RAO UES helped to pay it off and ensured an uninterrupted supply of fuel. The Armenian NPP has been financially stable for the past few years and is in the position to pay for a fresh batch of nuclear fuel. This is why there is no need for a managing company," Movsisyan said.