Bulgarian Experts Predict Staggering Cost for Belene Nuclear Plant

A file picture dated September 2008 of a worker during the launch of the project for the construction of a building of the first 1,000 MW unit of the second nuclear plant of Belene. By EPA/BGNES

The cost of the second Bulgarian Nuclear Power Plant in the Danube town of Belene, if the project is realized, will end up being over EUR 11.5 B, according to a report of the Institute for Market Economy.

The report was presented in the Parliament Wednesday by the Institute's Director, Krasen Stanchev.

The cost is twice higher than the initially announced one, while the price of the electric power would be nearly 3 times more and 50% up for the end consumer. According to estimates, an average Bulgarian household will pay EUR 4 200 for the construction of Belene.

"We truly see the NPP as Russia's Trojan Horse and it would take over the Bulgarian energy sector in the form of loans impossible to repay, while the Bulgarian Energy Holding will become the guarantor of such loans," the leader of the right-wing Union of Democratic Forces (UDF) party, Martin Dimitrov, said and appealed to Prime Minister, Boyko Borisov, to not sign any documents related to the building of the plant, especially before the new European Union safety rules are established.

In the Institute's analysis, the prices of insurance, infrastructure, processing of the used fuel, replacement power facilities and nuclear storage are added to the NPP cost of EUR 6.3 B.

Days ago, Economy and Energy Minister, Traicho Traikov, said the certain price of the NPP is about EUR 4 B while the Russian Atomstroyexport price is over EUR 6.3 B.

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