Czech ČEZ rejects corruption speculation involving Slovak JESS nuclear company
19. 8. 2026 / Albín Sybera
Majority state-owned energy utility ČEZ on August 19 rejected speculation about corruption in connection with the buyout of the ČEZ share in the Slovak Nuclear Energy Company (JESS).
ČEZ holds a 49% share in JESS, the daughter company of the Slovak state Nuclear and Decommissioning Company (Javys), through which the Slovak side is to develop the new unit at Jaslovské Bohunice, and Slovak Prime Minister Robert Fico is pushing to buy out the ČEZ share to pave the way for the government’s nuclear plans.
“ČEZ is strictly rejecting the nonsensical speculations about the value of the ČEZ share in the JESS company not to be assessed transparently, or that even illegal steps could have been made in connection with this transaction,” ČEZ' statement shared by Czech Press Agency (CTK) reads.
Originally published here
The statement comes just hours after Eduard Chmelár, a former Fico aide, speculated that Fico could be financially motivated to push ahead with the buyout and that the estimated price of €189mn for the ČEZ share could have been manipulated to incentivise Fico.
Fico rejected the speculation himself, posting on his Facebook social media profile on August 18 that “as a Prime Minister of the Slovak Republic I cannot tolerate any unfounded accusations of the members of the cabinet and representatives of state shareholding companies and foreign commercial companies of corruption and untransparent activities”.
The €189mn price estimate of the ČEZ share in JESS was compiled by Ernst&Young international consulting company, while ČEZ' entry to JESS under Fico’s previous cabinet in 2009 involved a €116.6mn input.
“The ČEZ company does not see any room for speculation here,” ČEZ stated in its press release, arguing that the difference in price reflects increase in valuation after the development of new electricity plants.
Fico wants to settle the ownership issue of (JESS) by September this year, and wants to move the agenda directly under his office from the Ministry of Economy headed by Denisa Saková (Hlas), which wanted another price estimate of the ČEZ share.
At the end of 2024, Fico’s cabinet announced plans to launch a new nuclear tender. The Jaslovské Bohunice site already has two reactors, and the new reactor is expected to cost between €10bn and €15bn.
Slovakia plans to have a new nuclear unit at the existing Jaslovské Bohunice nuclear power plant (NPP) operational by 2040, according to the intergovernmental agreement between Slovakia and the US, which was made public for the first time after being published as part of legal codex on January 23.
The agreement does not amount to a contract. Among other things, it commits the two sides to “consultations and exchange of specialist inputs aimed at furthering the overall development of the programme," as the agreement, shared in full by online energy-focused outlet Energie-portal.sk, states.
Fico’s cabinet approved the agreement last September, and confirmed it again on January 14 shortly before Fico’s trip to the US and after US President Donald Trump invited Fico to the White House for the July celebrations of the 250th anniversary of US independence.
Originally published here
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