| Business

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Czech Republic cancels nuclear reactor project with Westinghouse

Email Newsletters

Sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Friday, April 11, 2014, 12:01 a.m.

A state-run utility in the Czech Republic canceled a project in which Westinghouse Electric Co. hoped to build two nuclear reactors.

The utility CEZ said on Thursday it will not expand the Temelin power station because falling electricity prices made the multibillion-dollar project less feasible.

Westinghouse and a consortium led by Russia's Atomstroyexport were bidding to build the reactors. Spokesmen at Westinghouse in Cranberry could not be reached.

The U.S. Embassy is Prague said the government was “deeply disappointed” by the decision. The Czech government this week refused to provide financial guarantees for the plan.

Westinghouse last month said its president for Europe, the Middle East and Africa visited Ostrava in the Czech industrial heartland with what the company called a “high-level delegation” to prepare for construction. They signed agreements on future contracts with companies there that committed to building and installing key parts of the Westinghouse AP1000 reactors if it got the $10 billion Temelin contract.

Officials built a full-scale mockup of a key reactor module to get potential contractors acquainted with it.

In 2013, Westinghouse CEO Danny Roderick spent four days in the Czech Republic lobbying for the contract. He said at the time that such international projects were important to the company because utilities are building few nuclear reactors in the United States.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Business Headlines

  1. Fed slashes its emergency power options in crisis
  2. Stocks dip on lower holiday spending fears
  3. IMF adds China’s yuan to basket of top currencies
  4. Distractions can help keep riders alert in self-driving cars, study finds
  5. Demand for surveillance systems boosts sales for Vector Security
  6. Cyber Monday increasingly a ‘blah-iday’ as deals rolled out earlier, longer
  7. Yahoo investors losing patience with ‘star’ CEO Marissa Mayer
  8. Western Pa. conference aims to connect veterans with businesses with contracting experts, specialists
  9. U.S. steel producers oppose WTO’s reclassification of China as market economy
  10. University of Pittsburgh researchers revisit war of electric currents
  11. Small stores take big gamble by not upgrading credit card readers