Some details on several scenarios of the state energy policy were released
yesterday. Worth mentioning is the proposed cancellation of the
coal-mining limits (which would result in the longer availability of the
domestic coal supply and possibly its lower price in the medium term
compared to other scenarios), and the proposed expansion of the
nuclear-energy power plants. The latter contrasts with CEZ policy, which
has claimed it does not plan to expand its nuclear asset base, planning to
rebuild a large part of its lignite power plants in 2010-2020 period.
Thus, the proposal may make investors feel uneasy about the prospect of
CEZ privatization, since the state could hardly force private entities
into concrete investment plans.In privatization-related comments from the Industry Minister V. Urban for a Czech daily, he reiterated CEZ will not be privatized before 2006, but
the Cabinet plans to float a 15-16% equity stake on the capital market
(the state holds in total 67% of CEZ).
Jiří Soustružník