Czech utility ČEZ plans to sell its Počerady coal-fired power plant to
Se.ven Energy financier Pavel Tykač when an option comes available at the
end this year and shut down most of its coal resources by 2040.
Vršanská uhelná, part of the Se.ven Energy holding, should start operating the plant as of 2024. The company entered into 50-year contract with ČEZ in 2013 to supply coal to the power plant, which included two options to sell it.
Tykač set up the Se.ven Energy holding company with the aim of investing more than 1 billion euros power plants fired by fossil fuels, even as utilities shift to renewables.
In 2017, Tykač was to offer 10 billion crowns for the Počerady plant, but the supervisory board of state-controlled ČEZ rejected the sale. Prime Minister Andrej Babiš (ANO), then minister of finance, also opposed the sale.
The Czech energy giant ČEZ will develop small modular nuclear reactors in
cooperation with the American company NuScale, according to ČEZ spokesman
Ladislav Kříž, who told Czech Television that the two companies signed a
memorandum of understanding on Thursday. ČEZ and NuScale will share their
technical knowledge on the matter and look into the possibilities of using
such energy sources in the Czech Republic and across wider Europe.
The Czech government has a majority share in ČEZ and Prime Minister Andrej Babiš stated earlier this year that small scale nuclear power sources are the optimum solution for the country when it comes to constructing new nuclear power plants. NuScale is an industry leader when it comes to the development of these energy sources and is set to launch its first commercial reactor in the US state of Idaho in 2027.
Czech businesses are still struggling to find workers, the news site Ihned.cz reports. In August, labour offices in the Czech Republic posted more than 350,000 vacancies, which is the highest figure in the country’s history, the website wrote. The biggest demand is for construction workers, warehousemen, or truck drivers.
Czech state-controlled utility ČEZ has announced a September 25 deadline
for potential buyers of its Romanian assets to register their interest. The
move is in line with the company’s strategy to exit foreign markets,
including Bulgaria, Turkey and Poland.
In total, ČEZ is considering seven companies in Romania, keeping only companies engaged in modern energy services (ESCo) and trading activity. ČEZ will later issue a call for non-binding tenders from registered potential buyers.
The utility expects to earn tens of billions of crowns from the sales, which it will invest largely into renewable energies.
Unemployment held steady at 2.7 percent in August, according to Labour
Office data published on Monday. In Prague, the unemployment rate remained
at 2 percent.
Fewer than 205,000 people in the country were seeking work last month, the lowest number for the month of August since 1996.
The overall number of jobseekers is expected to rise slightly in September, mainly due the entry into the labour market of a large number of school-leavers.
Trust in the Czech economy experienced a slight increase in August according to the results of a monthly survey conducted by the Czech Statistics Office released on Monday. The rise is particularly thanks to greater optimism in the trade and services sectors. However, industry trust remains at a six year low and consumer trust has decreased.
New research by scientists from the Water, Soil and Landscape Centre at the
Czech University of Life Sciences suggests that another long-term spell of
drought would result in an CZK 80 billion contraction of the Czech economy.
Aside from financial effects, drought would also have an impact on
population health and the environment. At a press conference on Wednesday
the team suggested spending CZK 25 billion annually on preventative
Researchers presented two scenarios of how the economy could be impacted by further droughts.
One scenario envisions a 25 percent decrease in the productivity of industries, such as textile or paper production, which are dependent on water supplies. In this case the economy would face a production capability decline between 0.9 to 1.6 percent of GDP.
The second scenario, counts on a 50 percent decrease that would cut production down by 2.8 to 4.8 percent of GDP.
Charging stations for electric cars around the Czech Republic are reporting a sharp increase in electricity intake, Czech Radio reported on Friday. The Czech state-owned energy producer ČEZ, which currently controls around half of the charging stations, says consumption of electricity in the first six months of 2019 has nearly doubled year-on-year, reaching 828 869 kWh. Other companies are reporting similar growth.