Nuclear Revival Dying in Europe as Power Prices Slump: Energy

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.”
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