Iran to provide costs of Bushehr Nuclear Power Plant's launch

Nuclear Program Materials 27 February 2019 16:02 (UTC +04:00)

Tehran,Iran, Feb.27


Iran Atomic Energy Production and Development Company is to provide operating costs of Bushehr nuclear power plant from its annual budget.

Members of the parliament approved an article in Iran's next year (March 21, 2019) budget bill, where public power companies are obligated to provide the costs of power plants' development in the country from their annual budget, Trend reports citing IRNA.

MP's have obliged Iran Atomic Energy Production and Development Company to use its annual budget to provide for the operating costs of Bushehr Nuclear Power Plant.

To support the foreign investors in establishing power plants and secure financial sources, the MP's have asked the government to approve 50 percent exports of power products to foreign countries.

The Bushehr power plant is consuming energy imported from abroad, and later sells the generated power locally for much cheaper price. To keep the balance, the MPs proposed to sell half of generated energy abroad for foreign currency.

The government is also obligated to provide the guaranteed power purchase tariff for power supply contract that would be based on foreign exchange rate of the day so the cost of supplying gas fuel would equal to export price and the liquid fuel costs would be 95 percent of Persian Gulf FOB price.