Czech Republic Power Report Q2 2014 - New Market Report

New Energy market report from Business Monitor International: "Czech Republic Power Report Q2 2014"

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Boston, MA -- (SBWire) -- 04/15/2014 --The future of the country's power sector is largely dependent on nuclear and renewables, although gas has a key role to play over the medium term, as it will help reduce reliance on coal in electricity generation. However, both sectors have experienced setbacks. Further delays are expected over the expansion of the Temelin nuclear facility following the announcement by the government that it might not to guarantee strike prices. c. There is also an increasing level of uncertainty within the country's renewables regulatory framework, with a number of state subsidies for developers of renewable energy projects being cut. We therefore expect sluggish growth across the majority of segments within the renewables industry in 2014.

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Investment plans suggest generation will comfortably meet demand, with steady growth in domestic demand providing net power exports to neighbouring countries. Longer term, the country aspires to significantly increase its nuclear power generation.

Key Trends And Developments

- Allowing for system losses (forecast at 5.83%in 2014 and expected to decrease to 5.79% by 2023), owing to new investment in the grid), power supply should continue to outweigh demand, enabling continued net exports to neighbouring states. This quarter, we expect Czech power generation to reach an 84.35 terawatt hours (TWh) in 2014, and expect it will decrease by an annual average of 0.7% between 2014 and 2023, to reach 78.2TWh.
- CEZ has put off the construction of two new units at the Temelin nuclear power plant until mid-2015. The decision comes as a number of uncertainties have casted serious doubts on the feasibility of the project, including the recent announcement by the Czech Prime Minister Bohuslav Sobotka that his new government will not guarantee the purchase price of electricity generated at the expanded plant by utility CEZ. The construction of the Temelin expansion has been in a state of flux for nearly a decade, as questions over economic feasibility continue to weigh heavily on project development. We believe there is significant scope for the project to encounter further delays, creating downside risk to our forecasts for nuclear, and believe the Temelin expansion will continue to be a contentious issue within the country.

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