Czechs clear to sign $18 billion nuclear power deal after EDF appeals rejected
The rejection clears the way for KHNP, the Czech government and majority state-owned utility CEZ (CEZP.PR), opens new tab to sign contracts worth at least 400 billion crowns ($18.22 billion), plus expected inflation.
The competition authority's decision confirms an earlier verdict that EDF had appealed.
"There is nothing at this point that prevents (CEZ subsidiary) EDU II from concluding a contract with the preferred bidder KHNP," Chair of the competition authority Petr Mlsna told a news conference.
He said the decision invalidated an injunction that had prohibited any contracts being concluded.
Earlier this month, Czech Finance Minister Zbynek Stanjura said he expected contracts would be signed this quarter.
The 70% state-owned CEZ plans two 1,000-megawatt units at it Dukovany nuclear power plant in what will be country's largest energy investment to date.
CEZ and the government chose KHNP over EDF in July 2024 to build the new units, leaving the option open for further units later.
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