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Bloomberg/Businessweek/Washington Post (US): Nuclear Revival Dying in Europe as Power Prices Slump: Energy

Thursday 14 February 2013

By Ladka Bauerova on February 14, 2013

A Czech atomic-plant expansion planned near the German border had been one of the few prizes left for Europe’s nuclear-power industry after the Fukushima disaster stopped projects from Switzerland to Romania.

Russian and U.S. contractors have prepared to bid for the $10 billion contract to build two new reactors, Europe’s largest competitive tender for a nuclear project. Now a combination of cheaper European power prices and carbon credits, falling demand for electricity and concern government support may falter leaves CEZ AS’s project in doubt, analysts and investors said.

“The future of nuclear energy in Europe looks very dim indeed,” said Mycle Schneider, an independent consultant on energy and nuclear power based in Paris. “Nuclear is too capital intensive, too time-consuming and simply too risky.”

Abandoning the Temelin project would deal another blow to the foundering nuclear industry in Europe, and to contractors such as Russia’s Rosatom Corp. and Westinghouse Electric Corp., after the 2011 accident at the Fukushima plant in Japan.


See also The Washington Post

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