Closures Down Bulgaria's N-plant Profits

Business | May 3, 2004, Monday // 00:00| Views: | Comments: 0
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Closures Down Bulgaria's N-plant Profits The Soviet-built Kozloduy power station began operating in 1974. Bulgarian government has engaged to decommission four out of its six units till 2006. Photo by Archive.

The net profit of Bulgaria's only nuclear power plant Kozloduy for 2003 slipped by BGN 3.8 M over the previous year due to the closure of the two oldest reactors at the end of 2002.

Kozloduy net profit totaled BGN 9,6 M, according to a report of the company.

Revenues amounted to BGN 741.141 M in 2003 and costs totalled BGN 712.506 M. Supplies of nuclear fuel and transportation of nuclear waste accounted for 29% of the costs, while maintenance and operations - for 20%.

The electricity released into Bulgaria's energy system dropped by 14,5% over 2002 when Kozloduy announced record high 20,2 billion kWh output since it was started twenty-eight years ago.
The plant has invested BGN 96,6 M in the upgrade of the third and fourth 440-MW units.

In 2003 U.S. company Westinghouse and the Kozloduy European consortium began the upgrade of the 1,000-MW units 5 and 6 in a bid to extend their operations by 15 years.

The implementation of the project, worth EUR 491 M, will be complete by 2006.

The country's government has promised to close till 2006 units 3 and 4 widely seen as dangerous in the European Union. This move stirs a fierce discontent across Bulgaria since locals see the N-plant as one of the highly profitable engines of national economy.
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