Brazil: Eletronuclear responds to Angra 3 cost report

A recent analysis by the Federal Court of Accounts highlights the exorbitant costs of finishing Angra 3, defying reasonable pricing principles.

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Projet Angra 3 Brésil

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The Angra 3 initiative, a Brazilian nuclear project that was interrupted and then resumed, is in the spotlight following a critical analysis by the Tribunal de Comptes de l’Union (TCU). This report highlights a worrying disparity between forecast costs and affordable pricing principles. Eletronuclear, theEletrobras subsidiary in charge of the project, reaffirms the company’s commitment to clean, economically viable energy, despite the financial challenges highlighted.

Financial analysis and impact

TCU is critical of the proposed tariff structure for Angra 3, arguing that it could unduly burden consumers’ bills. This position is reinforced by initial forecasts from the Brazilian Development Bank (BNDES), which suggest higher costs than other forms of energy production. Eletronuclear defends the project, promising an in-depth study by BNDES to set the final tariff.

Eletronuclear’s response and strategic implications

In response, Eletronuclear argues for recognition of indirect benefits, such as job creation and economic stimulation. An investment in nuclear power, the company argues, would generate substantial spin-offs for the local and national economy. The need to reconcile these benefits with fair pricing remains a central challenge.

Public consultation and future prospects

Public consultation on the Angra 3 construction site marks a crucial stage in the project’s social acceptability. With successive interruptions and socio-environmental issues to resolve, the road to resuming work is littered with regulatory and community obstacles.

Angra 3 is part of a broader nuclear development strategy in Brazil, aimed at increasing the country’s nuclear capacity by 10 GW by 2050. This ambition reflects a desire to integrate alternative energy sources, seeking a balance between economic growth and environmental management.

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