Gov’t wants to save the National Uranium Company

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Romania has notified the European Commission (EC) for the approval of an individual state aid of RON 62 million to save the National Uranium Company (CNU), given that this company is unable to continue the activity, according to a draft emergency ordinance initiated by the Ministry of Energy.

The loan is requested in two tranches in the amount of RON 62,000 for a period of six months.

The money will come from the Government’s budget reserve fund.

In the substantiation note, the project’s authors show that the main cause of the CNU situation is that last year Nuclearelectrica canceled the contract with the state-owned company for purchasing uranium in favor of a Canadian company.

In turn, Nuclearelectrica representatives argue that the price offered by CNU was much higher than the one from the import.

Also, Romania is likely to incur severe penalties from the European authorities, if CNU is not respecting the nuclear safety and the environment obligations.

Consequently, Romania officials announced recently that is forced to import uranium from abroad for the two nuclear reactors in Cernavoda, for the first time in 20 years.

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