Spain shuts down oldest nuclear reactor

The Garona nuclear power plant is shutting down in order to avoid new taxes that would render the plant unprofitable.  Spain is introducing higher taxes on electricity generation as a measure to address an over 24 billion euro ($31 billion) energy tariff deficit after years of selling power below costs.

The operator of the plant Nuclenor said, that the additional 153 million euros of taxes that the BWR nuclear reactor at Garona would incur in 2013 would “increase current economic losses to the point of sending Nuclenor into bankruptcy.”  The reactor pressure vessel was constructed in 1966, and the plant was brought online in 1971.

Nuclenor said in order to keep the plant online, it would need to invest around 120 million euros, while also facing higher taxes.

Source: Reuters


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