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.
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.
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.
Two ambitious Czech power firms are lined up to fight over ageing coal-fired power plants state-controlled that electricity giant ČEZ has signaled it is willing to offload. The two plants were already on offer to miner Czech Coal as part ČEZ’s move to assure long-term coal supplies. EPH now says it is also willing to bid — amid speculation it wants to deprive Czech Coal of a foothold in the power production sector.
Bitter energy rivals ČEZ and Czech Coal appear to have entered a new stage of talks over coal supplies and power plants with the state-controlled power producer willing to throw in an unwanted 800 MW coal-fired power plant into the negotiations in order to end a six-year-old wrangle which has spread outside the country's borders to involve EU competition officials.
The Czech competition watchdog (ÚOHS) has bared its teeth and announced it is launching a prolonged investigation into ČEZ’s sale of its 50-percent stake in German coal company MIBRAG to Energetický a Průmyslový Holding (EPH) and acquisition of control of local heat and power company Energotrans from EPH. The former deal could well give ČEZ too much of a slice of local electricity production.
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?
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.