nuclear-news

Delay and doubts on Czech Republic’s nuclear power future

Political Delays to Hamper Czech Nuclear Tender, WSJ<  By SEAN CARNEY, 26 June 13,  The Czech Republic’s new interim prime minister Tuesday said he wouldn’t make any decisions that define the country’s long-term geopolitical orientation, likely delaying by months or potentially a year the decision whether the country will sign a $10 billion contract to expand its nuclear capacity.

“I won’t make strategic decisions,” said newly sworn-in Prime Minister
Jiri Rusnok, referring to the tender for two new nuclear reactors at
the Temelin nuclear power plant that would be built by an
American-Japanese consortium or by a Russian state-run company.

This throws into question whether Czech 70% state-owned electricity
company CEZAS BAACEZ.PR +0.89% (BAACEZ.PR) will be able to meet its
end of September deadline to select a winner from the tender
process……..
Mr. Rusnok–who Tuesday replaced Petr Necas as prime minister
following a corruption scandal that led the arrest of Mr. Necas’s
chief of staff–said signing off on the nuclear expansion plan
requires deeper analysis than selecting a winner based solely on the
project’s supposed economics and profitability.

The Prague-based company this spring put back its deadline to
September from the earlier envisaged July to select a tender winner
between Westinghouse Electricity Co., a unit of Japan’s Toshiba Corp.
6502.TO -1.08% (6502.TO), or Russian state-owned Rosatom…….
This is the largest-ever contract in value offered by the Czech
Republic and is the only active tender for new nuclear capacity in the
European Union.

The final decision, which would align Czech industry and politics with
Russian or Western partners for the next half-century, requires
approval of CEZ’s majority shareholder, the Czech state as represented
by the government….. http://online.wsj.com/article/SB10001424127887323419604578568831986807530.html

June 27, 2013 - Posted by Christina Macpherson | EUROPE, politics