Russia claims that due to the existence of nuclear power plants, its domestic electricity prices are lower than European levels

On March 20, Likhachev, General Manager of the Russian State Atomic Energy Corporation, said in comments on the situation of rising energy prices in Europe that, because nuclear power plants are in place, Russian electricity prices are lower than European levels. He also said that Russia and its cooperation partners do not face any risk of a uranium supply shortage. Likhachev said that the events that took place in the Middle East from February to March this year limited natural gas supplies to Europe, which in turn caused price shocks in Europe’s major electricity wholesale markets. Russia’s electricity wholesale market shows an entirely different pattern, with nuclear power serving as a price stabilizer. Because of the country’s nuclear power plants, its electricity prices—especially in the first electricity price zone—are far lower than European levels; the two cannot be compared. (CCTV News)