ČEZ to seek international arbitration over Russian outages

The Czech power company ČEZ has lost hundreds of thousands or even billions of crowns over outages in supply from Russia, CEO Daniel Beneš said on Czech Television’s Otázky Václava Moravce programme on Sunday.

Mr. Beneš said it made no sense to discuss supplies next year with the Russian company Gazprom and that the only possible step was to take an international arbitration case.

Speaking on the same TV show, the head of the national nuclear safety watchdog, Dana Drábová, said energy price fluctuations began in autumn last year, before Russia’s invasion of Ukraine; she said “Russia’s emperor” Putin had made the most of that situation.