Markets & Finance|Companies|Energy & Green Biz
Brian Kenety|27.06.2012

ČEZ sell-off of coal-fired plant(s) ‘satisfies’ EC, may draw new bidders

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.