1 Jul 2010 19:08

TVEL to support nuclear fuel to Armenian NNP

MOSCOW. July 1 (Interfax) - OJSC TVEL will supply nuclear fuel to Armenian Nuclear Power Plant (NPP) before the end of the timing of its commission.

The contract documents that set out the terms for nuclear fuel was signed on Thursday, TVEL said.

The document set the price formula for the fuel for reducing risks from possible price fluctuations on the world market.

Armenian NPP is under OJSC Inter RAO UES's financial management until September 2013. The station has two Soviet-built VVEP-440 reactors with 815 megawatts in capacity. However, operating capacity now just comes to 404 megawatts as one reactor is functioning.

The plant accounts for around 40% of Armenia's electricity output. The station increased electricity output in 2009 by 1.3% to 2.493 billion kilowatt hours.

TVEL is part of the state corporation Rosatom. The company's share of the world market for nuclear fuel is estimated at 17%. TVEL should soon be taking enriching facilities in Russia's atomic sector on board, as well as plants making centrifuges for enriching uranium.