Nikolay Podlevsky, head of Analytical Department of Zerich Capital Management

– In nuclear power engineering cycles are longer, more capital-intensive and change-resistant

The share of nuclear power plants in total energy production in Russia must be increased to 25%-30% despite the financial crisis, Prime Minister of Russia Vladimir Putin said during a conference on nuclear energy at Kalinin Nuclear Power Plant in Tver region. He said that under the crisis this task needs special attention. Putin also granted Rosatom’s request for additional capitalization worth 50bln RUR.

It is quite reasonable that the state has given preference to nuclear energy over thermal power. First, Rosatom is a state company, while thermal power engineering is in the private hands after the reformation of RAO UES. But the most important thing is that in nuclear power engineering cycles are longer, more capital-intensive and change-resistant. The manufacturing of a reactor is even longer process than the construction of a nuclear power plant. So, now that we have already set the task to build 26 reactors by 2030 it would be wrong to make hasty changes in this strategy.

Today, the economy is facing a crisis, the budgetary funds are melting but our government is still keeping the balance. Nuclear energy is one of the sector where expenses are justified.

Even if the crisis continues and energy consumption and prices will not grow, the reliability of the national energy system is still more important.