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Wednesday 30.07.2014 | Name days: Valters, Renārs
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Mikelsons: Latvia should think about benefits from investing in Visaginas NPP

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Karlis Mikelsons

Upon investing in Lithuania’s would-be Visaginas nuclear power plant (NPP), Latvia should think about what it gets in return, says Karlis Mikelsons, former head of AS Latvenergo.

The businessman indicates it is necessary to assess where to invest that billion. According to Mikelsons, it is not a small sum of money to be invested in another country’s economy. He recognizes that this concerns increasing the level of safety in the Baltic territory, yet it still is Lithuania. «It is another country and we should, however, think about what we will get in return». He adds that this will be a financial contribution and Lithuania will have the control over the company.

Asked whether Latvia can look forward to cheaper electricity, Mikelsons says there is no such concept, all depends on the market price. He is sceptical about the promise made by the Lithuanian side that the electricity price will be competitive.

There are more requirements, for instance, waste storage requirements in recent years have only increased and large proportion of the cost is comprised exactly by waste storage. If we are talking solely about energy production – it is cheaper, because the resource itself is cheaper. Yet, the whole related process is sufficiently costly, Mikelsons says.

Nevertheless, he pointed out that for one and a half years he has not been associated with this project, so he is not able to give more details.

Mikelsons was in charge of Latvenergo from 2000 until the summer of 2010. In June 2010, the Corruption Prevention and Combating Bureau arrested him in connection with alleged illegal activities of  Latvenergo’s officials. In late 2010, he and his wife established SIA KLM Consilia, where he is also the board member. Currently, Mikelsons is involved in projects related to manufacturing.

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