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Czechs consider nuclear power options: would require tax-payer funding

Prague weighs replacement options for nuclear plants, Ft.com, 23 Nov 18 

The Czech decision is being watched by neighbours considering investments in reactors  “……..

The reactors, which are owned by CEZ, the state-controlled energy group, are due to expire in 2035. Given the long lead time for nuclear projects, government and company officials have spent the past year debating whether — and how — to finance their replacement. With another plant run by CEZ in Temelin, the Dukovany reactors accounted for about two-fifths of Czech energy needs last year, making how to deal with their expiry one of the most important, and potentially one of the most expensive, decisions facing Mr Babis’s government. Analysts estimate that building new reactors would cost at least 100bn Czech koruna (€3.8bn) each — or about a third of CEZ’s market capitalisation.

………,The deliberations in Prague mirror debates elsewhere in central Europe, where the Czech Republic is not alone in considering another bet on nuclear energy Poland has been debating whether to build a nuclear plant of its own, while Vladimir Putin, Russian president, said in September that the Russian state-owned nuclear group Rosatom would soon start construction on two new reactors in Hungary.

Given the huge costs of building new reactors, CEZ’s leadership has been reluctant to embark on such a project without state guarantees, while minority shareholders are opposed to the idea of CEZ building new nuclear plants on its own, as they fear it will hit their dividend payments. ……https://www.ft.com/content/26cced6c-c8be-11e8-86e6-19f5b7134d1c

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November 24, 2018 - Posted by | EUROPE, politics

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