Russia's Atomstroiexport and its partners, who submitted the sole bid to construct Turkey's first nuclear power plant, have reduced the offer to sell power by 28-30 percent, daily newspaper Sabah reported on Monday.
The group, which also includes Russia's Inter Rao and Turkey's Park Teknik, originally offered to sell power from the nuclear power plant at $0.2116 per kilowatt hour, three times the market rate, reported World bulletin.
Turkish Energy Minister Hilmi Guler said last month after the announcement of the consortium's price offer that the group would be revising its offer amid the global financial crisis.
The new offer is $0.14-0.15 lower than the initial offer, Sabah reported.
The revised bid may help quiet analysts who have criticised the consortium's high price offer and clamoured for the cancellation of the tender due to lack of competitive conditions.
Cancellation of the tender for the plant, estimated at a price of $7.5 billion, could make it harder for Turkey to meet long-term energy needs.
Turkey already experiences power cuts during peak usage in the summer and regular shortfalls in gas supplies from its main importers Russia and Iran. Turkey imports almost all of its gas and oil.
The government plans to sell two more nuclear licences. Power from three nuclear power plants is expected to cover approximately 5 percent of Turkey's power needs.