Armenia is currently in the process of extending the operating period of the Metsamor nuclear power plant until 2036, after which another phase is expected to prolong its operation for an additional 10 years, Prime Minister of the Republic of Armenia Nikol Pashinyan said during the Parliament–Cabinet Q&A session.
“We are now in the process of extending the operation period of the Metsamor nuclear power plant until 2036. After that, another phase is expected to extend its operation for another 10 years, that is, until 2046,” Pashinyan said.
During this period, the government must make decisions related to the construction of a new nuclear power plant. Armenia is discussing the possibility of building a new nuclear reactor with Russia, the United States, France, China and South Korea.
“And we state this transparently to all our partners. This is a decision of crucial strategic importance. When making a decision, we must be certain which proposal best meets the interests of Armenia,” Pashinyan noted.
According to the Prime Minister, there is a need for a thorough and accurate study of the nuclear energy market. Currently, the electricity tariff generated by the Metsamor nuclear power plant is the lowest in Armenia’s energy system.
Referring to global developments in the sector, he noted that there are estimates suggesting that the currently known reserves of nuclear fuel are sufficient for about 70 years. “This means that we must calculate what one kilowatt-hour of nuclear energy might cost in 40 years,” Pashinyan said.
The nuclear power plant to be built must be based on an economic and financial model that ensures the return of invested funds. According to the Prime Minister, some partners are rushing Armenia to make a decision quickly.
“With all due respect, we must understand all these nuances,” Pashinyan added.
