News that Prague-listed utility ČEZ will sell one or two coal-burning power plants with a capacity of 800–1,000 MW in a bid to end a European Commission probe into suspected anti-competitive behavior (and in line with plans to divest from carbon-emitting power generation capacity) has been welcomed by the markets. State-controlled ČEZ — which denies any wrongdoing — had faced a fine of up to 10 percent of its 2008 global turnover of $5.2 billion.
Czech billionaire Pavel Tykač, the owner of leading lignite miner Czech Coal, said in an interview for the daily Mladá fronta Dnes published Thursday — his first in 15 years — that no other party, including rival Energetický a Průmyslový Holding (EPH), will outbid him for state-c0ntrolled utility ČEZ’s coal-fired Počerady and Chvaletice plants.
The markets have welcomed the Czech antimonopoly office’s (ÚOHS) approval of Prague-listed power utility ČEZ’s acquisition of the Energotrans heating plant from energy group EPH. Regulators had launched a detailed long-term probe into the deal, part of a larger asset agreement between ČEZ and EPH, on concerns that it could increase ČEZ’s grip of the electricity production market beyond an acceptable level.
Czech energy group Energetický a Průmyslový Holding (EPH) is considering using coal from its Mibrag mine in Germany keep its Elektrárny Opatovice power station running following the withdrawal of mining company Czech Coal from a supply contract, the daily E15 reported on Monday.
Energy group Energetický a Průmyslový Holding (EPH) has called the withdrawal of mining company Czech Coal from a contract to supply the former’s Elektrárny Opatovice power station with lignite “unjustified,” rejecting claims that it failed to make payments for supplies.
Chunks of a Ministry of Environment–piloted bid to reward Czech power companies, primarily state-controlled ČEZ, with free carbon emissions allowances in return for investments in cleaner electricity production have been rejected by Brussels officials with another problem stemming from concerns that Czech bid will excessively boost ČEZ’s market position.
Czech state-controlled power utility ČEZ is preparing to sell off two of its coal-fired power stations, neither of which has been modernized and the operation of which would require an investment into reducing emissions to meet the emission limits applicable from 2016.
In what was seen as a high profile test for the Czech competition office, it has apparently cleared state-controlled power giant ČEZ to add to its local electricity production capacity by taking over the Energotrans assets on the edge of Prague.
Czech power giant ČEZ says it will sound out its peers, including European rivals, as possible partners for the expansion of Temelín. France’s EdF is already tipped as a possible frontrunner with Asian interest also suggested.
The biggest power group in Central Europe, Czech state-controlled power group ČEZ announced lower than expected first quarter net profit of Kč 14.4 billion, blaming a regulatory decision hitting its Albanian distribution company and exceptional one off gains in the same period in 2011.