"Spain's Oldest Nuclear Plant Shuts Down"

"Spain's oldest nuclear plant Garona is shutting down on Sunday ahead of new taxes included in a government energy reform that would render the plant unviable."

"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 energy reform would add 153 million euros of taxes on Garona in 2013, its operator Nuclenor said in a statement, adding this would "increase current economic losses to the point of sending Nuclenor into bankruptcy.""

Tracy Rucinski reports for Reuters December 18, 2012.

Source: Reuters, 12/18/2012