A decrease of oil pressure in a pump resulted in the shutdown of Temelin’s first reactor yesterday, the Czech Press Agency reports. According to Temelin’s spokesman, the first reactor will be reactivated again tomorrow. Neutral.
The HN newspaper reports today that CEZ will organize an auction in which it will sell electricity; seven out of eight domestic distributors have confirmed that they are interested in the auction. This is a part of a strategy focused on CEZ re-gaining its domestic market share; CEZ has already announced an electricity-price reduction that could result in zero CAS net profit from electricity production in 2002. The overall effect on CEZ’s value will depend on how much of the domestic market will be recaptured by CEZ and on CEZ’s export performance (subject to formal and informal export restrictions). At the moment, the news is neutral to marginally negative.
(Jiří Soustružník)