Final Word from Monday, March 24, 2014

Andrej Babiš has never shown much zeal for enlarging Temelín, esp. since the French were disqualified. What can Russia or America do for us in exchange for getting the nuclear project, the inveterate dealmaker asked Ekonom last year? His announcement in HN today that he wants a 100% dividend payout at ČEZ is a clear no-confidence vote in the energy company's management and is the third blow to Temelín in recent weeks. The first came when the EU Commission preliminarily rejected a contracts-for-difference scheme for the Hinkley Point C nuclear project in the U.K. The Ukraine crisis is perhaps the final nail in Temelín's coffin. Although the CR doesn't plan to revise its negative policy on shale exploration in reaction to Ukraine, the CR has gone on record as saying that U.S. shale output already weakens Russia's negotiating position. Any clear signal to increase U.S. energy exports in reaction to Ukraine would further improve Europe's negotiating position, but it would also make the economics of enlarging Temelín all that much bleaker. [Czech Republic United States United Kingdom gas oil Ukrainian Crimea Jaroslav Zajicek Jaroslav Zajíček]

Glossary of difficult words

zeal - great energy or enthusiasm in pursuit of a cause or an objective;

inveterate - having a particular habit, activity or interest that is long-established and unlikely to change;

contracts-for-difference - (in this context) a guaranteed price for the electricity produced; if the market price exceeds the guaranteed price, the producer returns the difference;

to go on record - to state something officially or publicly;

bleak - not hopeful or encouraging.


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