Some of the flood-damaged assets of regional power distributors (CEZ is to acquire the state’s stakes in all eight domestic distributors) were not insured, and repairs could cost hundreds of million of Czech koruna in the worst cases; lower electricity consumption after the floods is also a negative factor that will influence their 2002 results.
The lower consumption will not significantly affect CEZ, since its supply contracts with the distributors are based on a take-or-pay basis (the distributors pay for all contracted supplies).
Jiri Soustruznik