Czech energy firm scraps nuclear plant

Czech energy giant CEZ announced on Thursday it was scrapping the planned construction of two new reactors at its Temelin nuclear plant, citing "turbulent" conditions in the European energy sector. "CEZ has cancelled the bidding process for the construction of two new units at Temelin. This decision has been announced to all parties," the firm said. It said a "turbulent trend" in the European energy sector was to blame. The contract was estimated to be worth between 11 and 17 billion dollars. The winner of the contract was originally due to be announced last year, but CEZ pushed back the date by "at least a year" in July 2013 due to questions over profitability amid uncertainty in Europe's energy industry, according to AFP.