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.
ČEZ and holding company Energetický a Průmyslový Holding (EPH) have announced the latest in their series of deals aimed at allowing them to boost their presence on the power market. Under the latest deal, ČEZ gives EPH full control of German mining company MIBRAG while ČEZ acquires Czech heat and power company Energotrans and gets a greater share of the Czech heat market.
Czech state-controlled power collosus ČEZ is ready to sell its half share in German mining company MIBRAG to joint owner Energetický a Průmyslový Holding (EPH), according to the Czech weekly Týden. It says the deal is prompted by another deal to sell EPH a power plant together with long-term coal supplies and the looming outcome of a probe by European Commission competition watchdogs.