The Czech government has announced that it would not guarantee purchasing prices for the electricity generated by the Temelin nuclear power plant project, claiming that guaranteed prices "could be a big financial burden for households and firms in the next decades". Czech power utility CEZ, which is developing the project, announced it will not sign any contract for the completion of the plant until an agreement on the guaranteed purchase price or another scheme is signed with the government, and could even scrap the project. The company has already delayed twice the selection of a supplier and planned to sign the contract in the second quarter of 2015, with Westinghouse or with MIR.
The Temelin project would consist of two 1,000 MW units to be built on the site of the existing plant and expected to be commissioned in 2025. Investment is estimated at €11bn and the contract between CZK 200bn and CZK 300bn (i.e. between €7.3bn and €10.9bn).
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