There are countless reasons why Europeans concerns Gaz de France Suez and Germany’s E.ON Rurhgas would look to sell their stake in Slovak gas monopoly Slovenský plynárenský priemysel (SPP). But there is only one logical explanation for why Czech energy giant Energetický a Průmyslový Holding (EPH) — in which billionaires Petr Kellner of PPF and Daniel Křetínský of J&T have control — would look to buy it. The answer lies in Mother Russia.
Westinghouse Electric Company said Monday it has signed a Memorandum of Understanding with Czech company I & C Energo in preparation for the potential construction of Westinghouse AP1000 nuclear power plants in the Czech Republic. The agreement covers Instrumentation and Control Systems for proposed expansion of ČEZ-run Temelín nuclear power plant.
Following the publication of ČEZ’s results for Q2, 2011, by the Reuters news agency and later Bloomberg, the state-controlled power company published its provisional results later on Monday, after having announced the results would be published on Tuesday morning before the opening of the markets. The company posted a net profit of Kč 6.74 billion, down 39.5 percent on Kč 11.19 billion in Q2, 2011, and well short of the Kč 8.53 billion expected by the market.
It’s invisible, it’s not explosive or flammable and doesn’t even smell, nevertheless carbon dioxide could be the downfall of a large part of the municipal heating industry in the Czech Republic which provides almost three-fifths of the country’s households with heat. As of 2013, municipal heating plants will be required to purchase permits to emit carbon dioxide; along with a rise in VAT and other taxes could prove to be a deadly cocktail for the industry.
RWE Czech Republic announced on Wednesday that due to Germany’s resolution to phase out nuclear power, EU unbundling legislation, and challenging economic conditions, the energy giant would sell off more assets than previously planned — including subsidiary Net4Gas, which owns and operates the Czech gas pipeline network. An RWE Group spokesman, however, said the sale was only being considered.
The dispute at the Czech waste dump known as the Ostramo lagoon should serve as a warning ahead of plans for the giant eco-tender, championed by the Finance Minister Miroslav Kalousek. In both cases, the idea is for a consortium to resolve major environmental problems. The effort at the black lagoon near Ostrava, led by the Geosan Group — a favorite in the eco-tender — has been a distinct failure.
Czech billionaire Petr Kellner’s energy holding EPH is still relatively small, but that could all change within a couple of months. His joint venture with Daniel Křetínský and the J&T Group is planning its largest acquisition yet: The firm wants to buy Slovak Gas Holding which holds a 49 percent stake and managerial control of the Slovak gas monopoly SPP. The deal should be completed in the spring of 2012. The question remains as to why EPH wants the Slovak gas company.
Renewables specialist Energy For You (E4U) is launching on the Prague Stock Exchange (BCPP) and seeking to drum up enthusiasm for its vision of a future where solar-powered heating plants would keep Czech homes warm through the long winters. E4U wants to roll out the plants across the country; its project developer has launched talks with around a dozen councils that have taken a shine to solar heating.
New head of the Czech Energy Regulation Authority (ERÚ) Alena Vitásková has said in her first interview in the job that two-decade old coal mining limits should be dropped. She has also come out in favor of strict rules for the many biogas and biomass power plants in preparation to prevent another costly boom along the lines of the Czech solar surge.
ČEZ is taking ownership of heat producer Energotrans from Energetický a Průmyslový Holding (EPH), which will acquire ČEZ’s 50-percent stake in German miner Mibrag. The financial details of the deal were not disclosed, but EPH and ČEZ had together bought Mibrag for just under Kč 11 bln. Earlier, EPH was to take control of a ČEZ-owned plant in Chvaletice, but the announced deal is on ice; does it also signal a cooling in ČEZ-EPH relations?