Czech Nuclear Project Scrapped

GALWAY, IRELAND--April 15, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) Czech energy major CEZ AS (PRG:BAACEZ) (Prague) has cancelled a €7.2 billion ($10 billion) tender for two new nuclear reactors.

The 70% state-owned company pulled the plug on the extension of the Temelin nuclear power plant (NPP) after the Czech government announced that it was not going to provide price guarantees or any form of 'stability mechanism' for low-emission energy projects.