(Jiří Soustružník) CEZ announced at a press conference yesterday that the first reactor at the Temelin nuclear power plant should begin to operate at a 55% capacity at the end of this week. Capacity will increase incrementally, to 75%, 90% and 100%, with fully capacity expected by the end of the year.
Turbine repair costs amounted to CZK 40 mil., which was paid by Temelin’s equipment supplier, Skoda Praha. Skoda Praha (which is 30% owned by CEZ) also paid a penalty of CZK 600 mil. for delayed activation. Neutral news for the stock.
Separately, the Czech Press Agency reports that E.ON of Germany confirmed its interest in Czech energy-sector privatization. As this was expected, neutral for the stock.