The Czech news agency CTK reports that the country's flood defenses could be bolstered thanks to a huge cash windfall for the government from energy firm CEZ.
As the electricity firm, which is increasingly positioning itself as one of the major players in central European energy supply, remains majority-owned by the Czech government, the country’s finances are set to receive a greater cash injection than predicted on the back of soaring power prices in the region.
CEZ’s dividend should grow by CZK2 billion against the original plan, Ivo Mravinac, spokesman for the ministry, told CTK. In total, it is thought that CEZ will pay out a total dividend in the range of CZK10 billion, to be confirmed at a board meeting in May.