The annual general meeting of state-controlled power producer ČEZ proved to be a contentious one, lasting a record 14 hours and into the wee hours of Saturday. In the end, it saw the ouster of three ČEZ supervisory board members, including its chairman, in a political power play. The AGM also agreed on a dividend pay-out which fell short of demands by some influential minority shareholders.
Czech and Slovak government ministers are due in Bratislava Monday to
debate current problems and perspectives for nuclear energy.
The annual two-day European Nuclear Energy Forum alternates between Czech and Slovak capitals and was created by the two nuclear states as a forum for the industry against the backdrop of increasing pressure to close reactors.
This year’s two main themes are safeguarding European nuclear know-how and the prospects for small modular nuclear reactors. Czech industry minister Tomáš Hüner is due to attend.
ČEZ says it sees no obstacle in the Temelín nuclear power plant operating
for 60 years. The state-controlled power company said a technical and
economic investigation found no fundamental safety or technical reason why
the first reactor could not operate until 2060 and the second unit until
2062. The plant in South Bohemia, around 45 kilometres from the Austrian
border, is the biggest single electricity producer in the Czech Republic.
The head of the Czech nuclear regulator, Dana Drábová, warned earlier this year that while there might not be technical problems with a 60-year operating life span for Temelín, stricter EU rules pushed by non-nuclear member states might make this impossible.
Czech electricity giant ČEZ saw its first quarter net profit drop to 7.3
billion crowns. Earnings before interest, depreciation, and taxes dropped
by 1.5 billion crowns to 17.5 billion crowns compared with the same period
in 2017. CEZ kept its full year net profit target unchanged at between 12
billion and 14 billion crowns.
The utility, which is around 70 percent state owned, said that its earnings were hit by lower production from its coal-fired power plants and previous fixed prices for electricity.
The ČEZ Group is no longer the general partner of the Karlovy Vary
International Film Festival, organisers revealed on Friday.
According to reports, the energy giant backed out of further cooperation before the start of this year. ČEZ was the key partner for the last 16 years – since 2002.
The company cited economic results as the reason it could no longer serve in its previous capacity.
The annual KVIFF takes place between June 29 and July 7.
The head of the Czech Chamber of Commerce has hit out at current prime
minister Andrej Babiš for his stance that state dominated utility ČEZ
should be able to build new nuclear reactors on its own without any help.
Chamber president Vladimír Dlouhý, speaking at an energy conference in Prague, said such a position was pure fiction.
He added that the chamber supports construction of new reactors and that the Czech Republic has advantages, such as developed nuclear know how and companies with relevant experience, which many other countries lacked.
A Czech government energy framework calls for at least one new reactor to be built at the current Dukovany site by at least 2035 when the four current units there are likely to be phased out.