Dana Drabova, the head of Czech Nuclear Safety Office, said yesterday that the Temelin nuclear plant had not completed all of the tests necessary for the completion of the 55%-capacity testing period. She said that either the period will be extended or the remaining tests will be performed during the 75%-capacity testing period. Neutral at the moment; if a significant delay occurs, negative.
Industry Minister Miroslav Gregr reiterated that the CEZ privatization tender winner would be chosen by 14 December 2001, as scheduled. He said that the investor would have to respect new labor contracts which entitle laid-off CEZ employees to compensation ranging from three- to 13-month salaries. The generous compensation is negative for CEZ, though the impact on CEZ’s share price should be marginal.
A two-day conference on the Czech energy sector begins today in Prague. Although we expect mostly general issues to be discussed at the conference, new CEZ-related information could occur.
(Jiri Soustruznik)