{"id":7459,"date":"2019-07-08T14:03:26","date_gmt":"2019-07-08T13:03:26","guid":{"rendered":"https:\/\/praguebusinessjournal.com\/?p=7459"},"modified":"2019-07-08T17:07:57","modified_gmt":"2019-07-08T16:07:57","slug":"cezs-dukovany-nuclear-plant-receives-preliminary-approval","status":"publish","type":"post","link":"https:\/\/praguebusinessjournal.com\/cezs-dukovany-nuclear-plant-receives-preliminary-approval\/","title":{"rendered":"CEZ’s Dukovany Nuclear Plant Receives Preliminary Approval"},"content":{"rendered":"
The Czech government has given preliminary approval for a plan by a subsidiary of electricity producer CEZ to build a nuclear power station with the government providing guarantees to help it secure cheaper financing.<\/span><\/p>\n <\/p>\n CEZ is 70 percent state-owned and has previously declined to invest in nuclear alone given high costs and unclear returns.<\/span><\/p>\n <\/p>\n A decision on construction of a unit at the Dukovany site is still years away with suppliers expected to be chosen by 2024.<\/span><\/p>\n <\/p>\n The plan presented by Industry and Trade Minister Karel Havlicek does not specify how to handle economic viability.<\/span><\/p>\n <\/p>\n While the government is keen to build new nuclear power stations, it does not want to pick up the bill, while CEZ has insisted that any investment makes a return for its owners, including minority interests.<\/span><\/p>\n <\/p>\n Havlicek said the government was ready to take responsibility for any future changes in legal and regulatory environments, and help secure cheap financing.<\/span><\/p>\n <\/p>\n But it does not want to guarantee returns on investment, as the British government did with guarantees on future power prices sold by the planned Hinkley Point power plant.<\/span><\/p>\n <\/p>\n \u201cWe will not go the British way of \u2018contract for difference\u2019, however we want to provide state guarantees. What they will cover is a matter of detailed discussions,\u201d Havlicek told a news conference.<\/span><\/p>\n <\/p>\n \u201cWe expect that CEZ will be the investor and CEZ will go into it with its business risk.\u201d<\/span><\/p>\n <\/p>\n CEZ said negotiations were only beginning.<\/span><\/p>\n <\/p>\n \u201cCEZ will of course proceed in a way that the result is beneficial for all shareholders,\u201d it said in an emailed reply to a question from Reuters.<\/span><\/p>\n <\/p>\n The investment into the initial unit with about 1,200 megawatt (MW) output is expected to be billions of dollars.<\/span><\/p>\n <\/p>\n It should replace capacity at Dukovany whose four 500-megawatt units will start decommissioning in 2037, and help energy needs as coal-fired capacity is gradually retired.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" The Czech government has given preliminary approval for a plan by a subsidiary of electricity producer CEZ to build a nuclear power station with the government providing guarantees to help it secure cheaper financing. CEZ is 70 percent state-owned and has previously declined to invest in nuclear alone given high costs and unclear returns. … Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":3374,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[3],"tags":[124],"jetpack_publicize_connections":[],"yoast_head":"\n