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Šilėnas, Žilvinas

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Veidas - Lithuania | 28/06/2012

Lithuanian nuclear plant could be costly

The Lithuanian parliament gave the green light on June 21 for the construction of a nuclear power plant in which Latvia and Estonia as well as the Japanese firm Hitachi will join Lithuania as strategic investors. The president of the Lithuanian Free Market Institute Žilvinas Šilėnas warns of hidden costs in a commentary in the weekly paper Veidas: "What we have is an equation with two unknown quantities: the cost of the electricity that the future power plant will produce, and the future price of electricity on the market. So even if circumstances seem favourable for new nuclear power plants today, that doesn't necessarily mean the situation will be the same in ten or twenty years. ... One danger for end users is that they may be obliged to pay at one point for investments that weren't worth being made in the first place. For that reason the decisive question is: who will have to pay if the risks outweigh the required investments?"

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