Westinghouse Sets Record Straight On Ukrainian Nuclear Fuel

KIEV, May 29, 2014 -- Westinghouse Electric Company views recent misleading information about its nuclear fuel, spread in various speculative publications, to be inaccurate and misrepresentative of the fuel’s capabilities. Westinghouse and Energoatom in April extended a contract to 2020 for Westinghouse to deliver fuel to up to three of Ukraine’s 15 nuclear reactors.

“The recent contract extension with Energoatom recognizes that Westinghouse fuel has been fully validated to be safely loaded and operated at Ukrainian nuclear power plants. This has also been confirmed by joint Energoatom and Westinghouse inspections and analysis by the State Nuclear Inspectorate of Ukraine last year. Westinghouse fuel is operating safely and efficiently today without any defects in performance," said Yves Brachet, president, Europe, Middle East and Africa.

Westinghouse has been working in the Ukrainian market since 2003 and brings needed competition, diversification of suppliers, global best practices and technology to the Ukraine market, as is the case in other nuclear energy markets. Energoatom is a strong partner and has expressed confidence in Westinghouse’s capabilities to bring significant rewards in performance and economics to its operating plants.”

Leading Ukrainian nuclear energy experts agree that Westinghouse fuel is highly competitive, reliable and secure. They also believe that changes in the Ukrainian nuclear fuel market will benefit both Ukraine and fuel suppliers.

Serhiy Dyachenko, Head of the Bureau of Complex Analysis and Forecasts: “Cooperation between Energoatom and Westinghouse does not rule out future use of Russian fuel; however, it does prevent Ukraine’s total dependence on Russian supplies. The development of nuclear energy has to be built on nuclear technology diversification.”

Volodymyr Tokarevsky, Doctor of Physical and Mathematical Sciences, Professor, Member of the Board of the Scientific and Technical Union of Energy and Electricity Professionals of Ukraine: “Thanks to permanent improvement of their fuel design, and recommendations by the State Nuclear Inspectorate of Ukraine, currently the Westinghouse products fully comply with the Ukrainian requirements. The new start of cooperation between Energoatom and Westinghouse, and diversification of nuclear fuel supplies to Ukraine would only benefit our country. The Ukrainian nuclear energy sector will become less dependent; the country’s nuclear security will increase. Moreover, the close attention of many experts and activists of environmental NGOs to such cooperation will increase safety at the Ukrainian nuclear power plants.”

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world's pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world's first pressurized water reactor in 1957 in Shippingport, Pa., U.S. Today, Westinghouse technology is the basis for approximately one-half of the world's operating nuclear plants, including more than 50 percent of those in Europe.