ČEZ predicts slightly higher profits, increased power production from coal and nuclear plants and signs of recovering electricity prices this year. The good news follows the announcement Tuesday of lower profits, primarily caused by depressed electricity prices.
ČEZ's hitherto head of asset management, Pavel Cyrani, will become the new head of its strategy division, created to help the state-controlled power giant steer its way through ever greater uncertainty in the European and global power sector. The new division will help back up the blue sky piloting previously performed by trading director Alan Svoboda.
Power companies believe they have seen off the threat of a Kč 48 billion bill for emission allowances from 2013 masterminded by the Ministry of Finance to curb the impact of electricity price rises caused by solar power. The ministry itself seems to have forgotten about the far-reaching plan, as power producers prepare to apply for “free” allowances under an EU deal.