14.06.2007 // Press Center of Nuclear Power Industry

The US power companies receiving Russian uranium under HEU Agreement support the decision of the Stockholm Arbitration Court to dismiss GNSS’s action against Techsnabexport

The US power companies receiving Russian uranium under HEU (Highly-Enriched Uranium) Agreement support the decision of the Stockholm Arbitration Court to dismiss GNSS’s $1bln recovery action against Techsnabexport.

GNSS demanded that Tenex should recover its lost profit worth $1bln.

RIA Novosti reports Vice President of EXELON James Malone to say that he has not received reliable information about the verdict yet but if such verdict has actually been passed, he fully supports it.

Now the situation over GNSS can no longer influence the cooperation between Russia and the US. Malone is sure that the verdict is fair and is a good example of how such disputes should be solved in the future.

A representative of Constellation en. has also supported the decision. He said that the verdict inspires hope that there will be no more problems with Russian uranium supplies in the future.

The above companies get Russian low enriched uranium under HEU Agreement and use it in the production of fuel for their NPPs. 50% of US nuclear power units work on Russian LEU supplied under HEU Agreement. Those units ensure 10% of the total electricity production in the US.