Saturday , February 27 2021

Babis: The government wants a new block of Dukovan to build a CEZ subsidiary energy

VALEČ The construction of a new block of Dukovany NPP should be provided by the subsidiary of ČEZ, which operates the plant, according to Prime Minister Andrei Babis (ANO). According to the Prime Minister, the state is ready to support the investment, guaranteeing it as second-highest. CEZ states that it opposes minority shareholders.

CEZ shares on the Prague Stock Exchange responded for the first time with a drop to 553 crowns. Morning trade began at 555 kronor per share.

"We are convinced that the investment is efficient and rewarding," Babish said at a seminar on the Dukovany power plant in Wolf, Trebic. He said it was not true that the government was only considering extending the life of Dukov's current blocks. "We want to analyze all possibilities, but we have clearly stated that the government wants CEZ to build a new block in Dukovany," the prime minister said.

Industry and Trade Minister Martha Novakova (for ANO) said at the end of August that the financial model for the construction of the new internal nuclear block should be resolved by the end of this year. By the end of October Babiš talked about the possible extension of Dukovan's life for ten years.

"Minority shareholders are already clearly demonstrating their inability to build nuclear power plants," CEZ spokesman Ladislav Kris said. He said that this is a long-term strategic investment, but in the short term, its profitability is questionable. Possible litigation is likely to block construction for decades. "There's no easy decision in that direction," said Cross.

CEZ is the largest Czech energy company. The majority shareholder is a state holding 70% of the shares through the state treasury. The Dukovski Nuclear Power Plant, with a total installed capacity of 2040 megawatts, covers one fifth of the electricity consumption in the Czech Republic.

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