Research (Conseq)
Markets  |  October 11, 2012 13:36:24

What will the price CEZ shares in the event of closure of the nuclear power plant. This step is likely?


Pressures on the shutdown of nuclear power plants in the Czech Republic can be seen for many years. To intensify efforts to exit from nuclear power generation occurred after the Japanese incident at Fukushima. Opponents of the stable nuclei, such as Austria, among other things, so added another neighbor of the Czech Republic, Germany. The latest excuse this time for the shutdown of nuclear power plants as fuel consumption is produced from uranium that is enriched in Russia, ie outside the European Union. This is contrary to the Declaration of 1994. ČEZ but rejects that argument with the fact that the fuel supply contract was concluded before the entry of the Czech Republic into the European Union. At the same time Finland has concluded a similar exception for the case of Loviisa power plant.The second problem may be expired license to operate reactors at Dukovany in 2015. Many experts, however, points out that Dukovany are one of the most safe nuclear power plants in the world and to extend the licenses should occur. Also the Czech Ministry of Industry Energy Policy envisages operation Dukovany least several decades. Taking into account the coverage of electricity consumption in the Czech Republic (about one fifth) nuclear power plant in Dukovany, so it is expected that in the event of a dispute between the European institutions and CEZ, the Czech government has performed very actively. For these reasons, I see the risk of shutdown reactors at Dukovany as low. But what we must expect as the future increased costs of security desired by European institutions.

Capacity Dukovany make up about 10% of the total installed capacity of CEZ. In case of closure of nuclear units Dukovany would affect the price of CEZ shares, due to the profitability of Czech assets versus foreign, pronounced.

 

 

Martin Pavlik,



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