EBRD limits Energoatom to $71 for CSFSF out their $250 mil credit line

The European Bank for Reconstruction and Development limited Energoatom to use only $71 million out of their total $250 mil credit line for the Construction of the Centralized Spent Fuel Storage Facility (CSFSF) project. This decision took into account the low tariff for electricity being supplied by Energoatom to the Ukrainian wholesale power market, as reported by Energoatom’s President Yuriy Nedashkovskyi on July 12, 2018.

“Today, due to unacceptable low level of tariff (UAH 0.5403 per 1kWh), the EBRD forbids to take more that $ 71 mill out of the total $250 mil credit from the U.S. Stock Exchange aimed at building a storage facility for spent nuclear fuels. We attracted funding, but we cannot use it”, argued Mr. Nedashkovskyi.

According to Energoatom’s President, the current tariff for power from NPPs does not cover company’s expenditures for duly wages and salaries of personnel in order to prevent labor outflows. “The tariff of UAH 0.5403 per 1kWh is critically deficient and hardly cover operational needs”, said Mr. Nedashkovskyi.