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Czechs & Slovaks sign N-Deal to Reduce Dependence on Gas

Czechs-&-Slovaks-sign-N-Deal-to-Reduce-Dependence-on-GasNuclear energy has reappeared on the agendas of some nations seeking energy security. With memories of this winter’s gas price row between Russia and Ukraine still fresh, the Czech and Slovak governments are taking another look at the promise….

of nuclear power. Recent spats between gas supplier Russia and transit country Ukraine have left some European countries in the cold. Some nations, including Slovakia and its neighbor the Czech Republic, now think nuclear power may end their dependence on Russian natural gas.

State-run companies from the Czech Republic and Slovakia recently announced plans to build a new nuclear reactor in Jaslovske Bohunice on the site of the old Soviet power generator that was shut down last December.

The deal that was signed between Czech energy company CEZ AS and Slovak state energy firm JAVYS AS will set up a joint-stock company to construct a new 100 billion koruny ($5.2 billion) reactor. JAVYS AS will have a 51 percent stake while CEZ will control 49 percent.

No further details were provided, but a feasibility study, due to be completed by 2010, will provide a timetable for the project.

According to the World Nuclear Association, Slovakia currently has five nuclear generators, which provide half of the country’s electricity, with two more under construction. The Czech Republic has six nuclear plants which supply one third of its electricity.