In addition to the ongoing attacks on Ukraine’s energy infrastructure, Russia has periodically launched massive information assaults on major Ukrainian energy companies. In early June, over 10 publications simultaneously appeared in Ukrainian media, aiming to discredit Ukraine’s nuclear energy sector, specifically JSC Energoatom, which operates three nuclear power plants.
Despite Russian aggression, Energoatom has continued to operate efficiently, maintaining energy production and supporting the country’s economy. Petro Kotin, acting CEO of Energoatom, emphasized that nuclear energy remains a cornerstone of Ukraine’s energy security.
“Amid the ongoing aggression, Energoatom continues to be a pillar of energy security in Ukraine,” Kotin stated. He highlighted that Energoatom’s efforts include unprecedentedly fast repair campaigns on nuclear units, mobilizing financial, human, and logistical resources to reduce downtime and minimize power outages.
These information attacks were timed to coincide with the increase in electricity tariffs from June 1, 2024, and prolonged power outages due to destroyed thermal and hydroelectric stations. Kotin pointed out that these attacks aim to mislead the public and foster mistrust by exploiting sensitive topics like “illegal enrichment,” “corruption,” and “procurement.”
Kotin also dispelled misinformation regarding the allocation of funds from increased electricity tariffs, clarifying that Energoatom’s revenue primarily goes towards public service obligations, not the construction of new power units.
“Common manipulations and false interpretations create sensationalism and unfounded accusations that are later disproved by regulatory and law enforcement agencies. The executors of these attacks do not hide their goal – personnel changes to promote individuals who will ruin the nuclear industry. This is a blatant harm to Ukraine’s national interests that should be prosecuted by law,” said Kotin.
As an example of such manipulation, Kotin cited reports in Ukrainian media claiming that the funds from increased electricity tariffs for the population would go to Energoatom and be directed towards the construction of units 3 and 4 at the Khmelnytskyi NPP.
In reality, according to Kotin, Energoatom barely has enough funds to fulfill its public service obligations to maintain a fixed low tariff for the population, as imposed by the government. In 2024, 61% of all revenues – 108.3 billion UAH or 2.7 billion USD – will be allocated for these purposes. These funds cannot be used for the construction of new units at the Khmelnytskyi NPP.
Additionally, Kotin noted that no other companies in the world allocate 61% of their revenues (not profit) to support tariffs for an entire population, continue to operate effectively during wartime despite losing 45% of their capacity (due to the occupation of Zaporizhzhia NPP), ensure nuclear and radiation safety at the highest level (even during the war), pay over 500 million USD in taxes annually, receive no government subsidies, and start new unit construction programs. Therefore, the role and significance of nuclear energy for Ukraine cannot be overstated, no matter how much certain individuals try to discredit the industry.
“We are ready and will continue to protect Ukrainian nuclear energy and develop its immense potential. We will defend the right of Ukrainians to have their own stable, high-tech, and safe nuclear generation in the future,” Kotin stated. In April 2024, Energoatom, along with the American company Westinghouse Electric Company, announced the start of a project to construct two power units using Westinghouse’s AP1000 technology at the Khmelnytskyi NPP. This will be one of Ukraine’s largest infrastructure projects, valued at over $10 billion, with its active phase occurring during the post-war reconstruction years. Later in April 2024, JSC “NNEGC Energoatom” and the American company Holtec International signed a General Agreement to transfer Holtec’s technology for the production of components for small modular reactors and to establish a Ukrainian plant to produce components for spent nuclear fuel storage, which are currently manufactured in the USA.
Energoatom does not falter in the face of military challenges, and information attacks only make us stronger. This is confirmed by joint plans with leaders of the nuclear industry such as Westinghouse, Holtec, EDF, and others. Some projects, such as the completion of units 3 and 4 and the construction of new units 5 and 6 at KhNPP, or the construction of plants for the production of small modular reactors and CSFSF components, are already underway. A number of other developments are at different stages. Ukraine has ambitious plans for the development of the nuclear industry and is moving towards a clean and decarbonized future.
