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Energy Minister: no need to raise tariffs for households to complete KhNPP

Ukraine is counting on lending. 

Energy Minister: no need to raise tariffs for households to complete KhNPP
Ukrainian Energy Minister Herman Halushchenko
Photo: Ministry of Energy

The completion of the reactors at Khmelnytskyy NPP will be implemented through loans, and there is no need to raise tariffs for households. Energy Minister Herman Halushchenko said this in an interview with LB live.

The final amount for the completion of the KhNPP is unknown. The preliminary estimate is UAH 160 billion for the purchase of equipment in Bulgaria, while the project with the American company Westinghouse requires at least UAH 437 billion. 

The project with Westinghouse relies on financing from the US side. There are offers from US banks to lend to this project.

"That is, in fact, lending to Westinghouse and its technologies," he said. 

There are similar agreements on lending for the purchase of equipment in Bulgaria.

"There are agreements with financial institutions that this will be a loan. This is not related to the tariff. It sounds like the tariff will be raised this year because we need to build. This is not true. It will not be at the expense of Ukrainians," he said. 

According to Halushchenko, two units can be completed in four years. 

Third and fourth of Khmelnytskyy NPP

  • The readiness of the third power unit is up to 80%, and the fourth - up to 30%. Their completion has been frozen for several decades. After Russia's massive attacks on the energy sector, the Cabinet of Ministers decided that it was advisable to complete them. 
  • If the plant is completed, it will become the most powerful in Europe. 
  • Both unfinished units require VVER-1000 reactors, which were developed by Rosatom in the Soviet era. 
  • "Ukraine completely refused to cooperate with Rosatom after the outbreak of a full-scale war, terminating all agreements with the Russian side in the nuclear sphere. Instead, direct commercial negotiations are underway with the Bulgarian government to purchase equipment and reactors of the Belene NPP, which is owned by the Bulgarian state energy company Natsionalna Elektricheska Kompania EAD. In general, Ukrainian nuclear energy and the construction of new power units at the t NPP are among the main areas of manipulation and fakes that are being "thrown" into the Ukrainian media field," the StratCom Centre said. 
  • Nashi Hroshi, citing other media outlets, stated that the cost of the reactors in Bulgaria had increased from $600 million to $1.1 billion after their purchase. Energoatom accused the journalists of spreading fake news and said that "manipulative statements about the cost of Belene NPP reactor equipment, which is the property of the Government of the Republic of Bulgaria, are inappropriate, as commercial negotiations are still ongoing. As of today, according to the decision of the Bulgarian parliament, the cost of this equipment is USD 600 million. 
  • The completion of the plant will be carried out in two stages. The second stage involves the launch of American power units. 
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