14:08 17.04.2020

Energoatom reserves enough for 1.5 years, non-payment crisis threatens new supplies, export of spent nuclear fuel

2 min read
Energoatom reserves enough for 1.5 years, non-payment crisis threatens new supplies, export of spent nuclear fuel

Stocks of fresh nuclear fuel formed at the National Nuclear Generating Company Energoatom allow all 15 power units of the NPP to work for approximately one and a half years, but the non-payment crisis is a real threat to the delay in fresh nuclear fuel supplies and the removal of spent nuclear fuel in 2020, the company said.

"Due to the significant and constant shortfall in funds for the electricity generated, a critical situation has arisen with payments for the export of spent nuclear fuel, as well as the supplies of fresh fuel and nuclear materials necessary for generating process," the company said in the statement for the Energy Reform Internet portal.

Energoatom said that the lack of funds significantly complicates the implementation of the production program, repairs, taxes, contractor payments and led to delays in salaries to employees, as well as the imposition of fines and sanctions on the company.

According to the company, overdue indebtedness of Guaranteed Buyer, a state-owned enterprise, for electricity purchased from Energoatom increased to UAH 4.3 billion in March. In addition, indebtedness of Ukrenergo to the generating company under an electricity purchase and sale agreement to settle imbalances and balancing services exceeded UAH 500 million.

Violation of payment terms for some obligations reaches two or more months, the company said in the statement.

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