Ruslan Stefanov, an expert at the Sofia-based think-tank Center for the Study of Democracy (CSD) has highlighted the inevitability of resorting to a non-market based financing mechanism for the Belene NPP project.
Stefanov gave an interview Tuesday for the Bulgarian National Radio (BNR) on the occasion of the round table "Nuclear Energy After Fukushima. The Challenges to Bulgaria" organized by CSD.
"It has long been clear to us that Belene NPP will be very hard to implement without any sort of state guarantees", Stefanov pointed out, adding that this assumption was confirmed after the withdrawal of private investor RWE....
Ruslan is making a very good point.
Indeed, new power plant construction of any kind would lead to higher prices.
But here is the thing - almost always lost in these types of conversations.
Older power plants, after they get paid off based on years of operation, are cash cows for the electric utilities. So, electric utility companies - whether public or parvate - make a lot of money from older plants, especially after such plants have been completly depreciated.
And herein is the devil.
Yes, older plants make a lot of money and keep utility prices lower, but they are a disaster waiting to happen. They are far less safer that newer technology NPPs.
So there you have it folks:
We can either stick with older generation but generally much less safer plants, ot we can pay a bit extra and have the newest, most efficient plants built along with the peace of mind that nuclear accidents are less likely to happen.
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