The Czech Hospodarske noviny newspaper reports today that the Czech Cabinet, meeting yesterday, has decided not to modify its energy-sector restructuring plan. This follows recent press speculation that the Cabinet might modify or even cancel the sector-restructuring plan in order to boost fiscal revenues in 2003. The Finance Minister, B. Sobotka, cited the risk of the sector restructuring delay as a major reason for the Cabinet not to modify its previous decision to sell all eight of the state’s stakes in domestic power distributors (five majority and three minority stakes) to CEZ. The news is positive for CEZ.
Separately, CEZ is to hold a press conference on sector restructuring today at 11 a.m. CET.
Jan Hájek