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Low power prices stop Swedish nuclear revamp
Low power prices stop Swedish nuclear revamp
STOCKHOLM, April 3 (Reuters) - Work to overhaul a reactor at
Swedish nuclear power plant Ringhals has been cancelled because of
low power prices and a surplus in supply, state-owned Vattenfall said
on Monday.
``The future prospect of low power prices combined with a power
surplus does not justify further investments,'' Leif Emsjo, spokeman
at Vattenfall told Reuters. ``It just does not look financially
viable.''
Ringhals' board decided not to go ahead and issue a tender for a one
billion crown project to revamp one of its four reactors, Ringhals
Chief Executive Gosta Larsen told Reuters.
Power prices have plummeted since Sweden started to open its power
market in 1996 in line with a European Union directive to partially
deregulate the European power markets by 2003.
Emsjo said there was no fault with the 25-year old plant and that the
cancelled plans to give the Ringhals reactor a facelift would not
impact on security and quality.
Sweden has 10 nuclear reactors which produce 48 percent of the
electricity output in Sweden.
In November last year, a reactor at nuclear power plant Barseback was
closed in line with the governments plans to phase out
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