CEZ plans to re-activate the Temelin power plant in August (as expected), but 100% capacity generation now seems anticipated for November as opposed to the previously mentioned September. Negative news, but not likely strong enough to send the stock’s price down.
CEZ said that the costs of fixing faulty equipment in Temelin will be paid by the equipment suppliers and that the investment budget of CZK 98 bil. will not be exceeded.
Separately, CEZ said it wants to reach an agreement with Vivendi Telecommunications related to its subsidiary CEZTel in coming days. It does not intend to invest into the subsidiary, nor has it any obligations linked to CEZTel. Unlikely to influence the stock.
(Jiří Soustružník)