Wednesday, September 13, 2006

Natgas price has to double to make nukes pay, Russian fed says

The head of the Russian Federal Atomic Energy Agency (Rosatom) told a meeting of Russian nuclear industry officials that nuclear power won't break even until prices for natural gas in Russia reach at least $82 per 1,000 cubic meters. Sergei Kiriyenko added that the economics may change as Russia's natural-gas industry restructures over the next decade.

Kiriyenko noted that state financing for Russia's nuclear power program is set to end in 2015, just a year after the country plans to open several new nuclear plants, which will replace existing gas-fired facilities.

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