A report in the weekly news magazine Euro suggests the Czech power giant ČEZ intends to delay a final decision on whether to expand the Temelín nuclear plant by at least 12 months. ČEZ is due to announce a winner for the multi-billion dollar tender this autumn; a ČEZ official quoted in the magazine now says that even if a winner is chosen this year, the final contract may not be signed until the autumn of 2014. More
The new environment minister, Tomáš Podivínský, has backed plans to
expand the Temelín nuclear power station. Speaking to reporters after a
visit to the plant on Friday, Mr Podivísnký said the planned
of two new blocks was important for the country’s energy stability.
critics say it would be highly unprofitable to go ahead with the plan
current electricity prices, the minister said the energy market was
distorted by subsidies for renewable sources of energy.
The state-owned energy firm ČEZ is planning to pick the winning bid for the multi-billion project this autumn; however, it’s not clear whether the caretaker government will award the contract, or whether the process will be concluded after the next general election.
In Business News this week: Russia’s Rosneft signs deal to deliver crude oil to Czech Republic; political instability could delay announcement of Temelín tender winner; poll suggest only quarter of Czech businesspeople want euro; domestic banks “stable and resilient” says CNB; and truck-maker Avia to close Czech factory. More
In Business News: a major investigation reaching into the upper echelons of government will not negatively impact markets say analysts; the Agriculture Ministry revises the damage figure to the sector from recent floods; the Czech Republic moves up seven notches on KPMG’s VAT list; Czech companies could provide amphibious vehicles for Libya, E15 reports; the TOP 100 association releases its list of top Czech exporters last year. More
Czech Prime Minister Petr Nečas is on a four-day working visit to Russia. On Monday, Mr Nečas met the head of the Russian government, Dmitry Medvedev for talks on economic cooperation including a Russian bid to expand one of the Czech Republic’s nuclear power plants. Later on Monday, the Czech prime minister is scheduled to meet with Russia’s president, Vladimir Putin, in Sochi. More
Czech Finance Minister Miroslav Kalousek has expressed doubts about the
planned expansion of the Temelín nuclear plant. In an interview for the
daily Hospodařské noviny on Friday, Mr Kalousek said he was not sure
whether the investment would be effective due to an uncertain outlook of
electricity prices. The minister also said he was surprised by the high
cost-estimate given by the two bidders. In a reaction, Prime Minister Petr
Nečas said the plant’s expansion was necessary to ensure the
The Czech government is planning to invest between 200 and 300 billion crowns in building two new reactors at the Temelín plant. The two bidders left in the process are a Russian-led consortium and the US-based firm Westinghouse.
In Business News: the IMF has advised the Czech government against making further budget cuts in view of the country’s worse-than-expected economic development; Finance Minister Miroslav Kalousek has questioned the financial wisdom of expanding the Temelín nuclear power plant; Czech arms producer Česká zbrojovka has won a multi-million crown tender to supply 50,000 pistols to the Egyptian interior ministry and the Czech liqueur maker Rudolf Jelínek posted its first loss since 1998. More
In a speech at the Russian embassy in Prague, the Czech President Miloš Zeman said that he would like to see the volume of Russian investments in the Czech Republic increase in the next few years. Speaking at a ceremony commemorating the end of the Second World War, Mr Zeman said that Russian investments currently make up 0.8 percent of all foreign investments in the country, and that he would like to see that amount rise to between two and four percent. The president and the Russian ambassador both spoke about the Czech-Russian consortium which is one of the two bidders for a multi-billion-crown tender for the expansion of the Temelín power plant. Some experts worry that giving the energy tender to the consortium, as opposed to the Japanese-American company Westinghouse, would not be in the best geopolitical interests of the Czech Republic.
In Business News this week: European Commission says Czech Republic needs no further austerity this year; Czech central bank cuts growth forecast for this and next year; Finance Ministry launches monitor of public finances; Škoda considers plans to produce utility vans; six Czechs are ranked among dollar billionaires; and groundbreaking travel firm Student Agency eyes Prague’s taxi market. More
Ecological activists from Friends of the Earth have awarded the country’s environment minister, Tomáš Chalupa, this year’s Ropák (Oil Guzzler) anti-award for most damaging environmental policies. The organisation said the minister had been chosen for the distinction for a controversial bill on the protection of Šumava National Park, for supporting the expansion of the Temelín nuclear power plant, and allegedly failing to act in the protection of the environment. The minister responded by saying that receiving the award meant he was doing something right and not succumbing to what he called “green hysteria”. The Ropák anti-award takes its name from a fictional creature (invented by Czech filmmaker Jan Svěrák) which survives on industrial waste. This year was the 21st time it was awarded.