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Nuclear Revival Dying in Europe as Power Prices Slump
Nuclear Revival Dying in Europe as Power Prices Slump
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.”
<snip>
...German wholesale power prices have more than halved since 2008 as the economic crisis cut demand and wind turbines and solar panels increased supply, while a slump in EU carbon permits to a record low has removed much of nuclear’s advantage over fossil fuels. At the same time, increased technical scrutiny after Fukushima has raised the cost of new reactors.
...
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.”
<snip>
...German wholesale power prices have more than halved since 2008 as the economic crisis cut demand and wind turbines and solar panels increased supply, while a slump in EU carbon permits to a record low has removed much of nuclear’s advantage over fossil fuels. At the same time, increased technical scrutiny after Fukushima has raised the cost of new reactors.
...
http://www.businessweek.com/news/2013-02-13/nuclear-revival-dying-in-europe-as-power-prices-slump-energy
4 replies
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= new reply since forum marked as read
German wholesale power prices have more than halved since 2008 as the economic crisis cut demand and wind turbines and solar panels increased supply, while a slump in EU carbon permits to a record low has removed much of nuclear’s advantage over fossil fuels. At the same time, increased technical scrutiny after Fukushima has raised the cost of new reactors.
