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Czechs Start $7 Billion Nuclear Project as Power Prices Surge

  • CEZ gets green light to start selection of reactor supplier
  • Russian and Chinese companies excluded over national security
A CEZ power plant in Temelin, Czech Republic.

A CEZ power plant in Temelin, Czech Republic.

Photographer: Vladimir Weiss/Bloomberg

The Czech Republic moved closer to building a nuclear reactor for at least $7 billion as part of efforts to wean itself off coal.

Prime Minister Petr Fiala’s administration on Thursday gave majority state-owned utility CEZ a formal go-ahead to start looking for the supplier of a new unit at its Soviet-era Dukovany atomic power plant. The company expects to receive the first round of bids by the end of November, present the results to the government in December 2023 and sign a contract with the winner in 2024.