OREANDA-NEWS. July 08, 2010. On the 1st of July this year contractual documents regulating the terms and conditions of current and prospective supplies of nuclear fuel until the end of the service life of Armenian nuclear power station were signed between TVEL OJSC and Aikakan Atomayin Elektrakayan.

The documents fixed a market-oriented pricing mechanism for fuel that will be applied until the existing power generating unit of the said nuclear station is decommissioned. The documents were signed by the President of TVEL OJSC Yuri Olenin and the Director General of Aikakan Atomayin Elektrakayan CJSC Gagik Markosyan.

The parties confirmed that the agreements they made are mutually beneficial and that the level of collaboration achieved between them allows extending their cooperation. The Armenian operator has become another partner of TVEL OJSC that has fixed bases and approaches to fuel pricing in order to reduce possible risk of price fluctuations in the world market.

Background information:

Pursuant to law of the Republic of Armenia regulating the use of nuclear power Aikakan Atomayin Elektrakayan Closed Joint-Stock Company (AAEK CJSC) fulfills the functions of Armenian nuclear power station operator. The main objective of AAEK CJSC is to ensure safe and cost-effective power generation.