TribLIVE

| Business


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

Czech Republic cancels nuclear reactor project with Westinghouse

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.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Consol Energy cutting retiree health benefits, phasing out pension
  2. Stocks slammed as manufacturing slows in U.S., abroad
  3. EPA says greenhouse gas releases from wells, pipelines decline
  4. Study: Wellness programs don't save money, but employee health improves
  5. Retirement planning is about more than just money
  6. Jobless baby boomers struggle to get back in game
  7. Google Pittsburgh instrumental in fight against hackers, co-directors say
  8. With acquisition, PNC set to enter IPO market
Subscribe today! Click here for our subscription offers.