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CEZ and MUS Achieves Final Agreement

25. 2. 2000

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CEZ and MUS Achieves Final Agreement

The mining company MUS and the power-generation company CEZ signed today (25th February 2000) a contract for this year purchases of lignite. Simultaneously, both parties executed to their mutual satisfaction an agreement of settlement solving the recent disputes concerning bills for lignite which CEZ had failed to accept in 1999.

 

The mining company MUS and the power-generation company CEZ signed today (25th February 2000) a contract for this year purchases of lignite. Simultaneously, both parties executed to their mutual satisfaction an agreement of settlement solving the recent disputes concerning bills for lignite which CEZ had failed to accept in 1999.

Management of both companies believe that the execution of the contract and agreement is a first step in the new partnership collaboration of the two important subjects on the Czech energy market.

"We believe the agreements will help to ease off the atmosphere on the market with lignite and create conditions for a conceptual solution of the future of the market. The agreements are considered to be optimal for both parties, they were not subject to any external pressures," said CEZ General Director Stanislav Svoboda.

MUS Board Chairman Antonin Kolacek said on this occasion: "I take the agreements achieved today as an important positive signal for the future and a basis for building a joint strategy of both companies in relation to the unifying energy market in Europe."

 

Ladislav Krizpress, spokesman of CEZ

Matej Stetka, MUS Press Spokesman