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CEZ power company is allowed to "court" Bulgarian regional distribution companies

22. 12. 2003

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CEZ power company is allowed to "court" Bulgarian regional distribution companies

On Friday, 19.12.2003, in the late afternoon, the Bulgarian Privatisation Agency confirmed in writing that CEZ power company had met all relevant criteria and thereby qualified for partaking in the privatisation of Bulgarian regional distribution companies.

After meeting the qualification criteria, CEZ is entitled to purchase information memoranda for all three privatisation packages, which cover a total of 7 Bulgarian distribution companies which are being privatised, and to submit indicative offers either for selected privatisation packages, or for the whole lot. Bulgarian and Czech energy industries have had a long history of cooperation, and this relationship can now be further extended, thereby reinforcing the positions of both parties on the liberalised European electricity market. By cooperating within the framework of the entire Group, both parties have the opportunity to establish a strong energy group in the former Eastern Block, which would be able to compete with large energy utilities from EU countries.

Ever since the launch of a fully opened Czech market for electricity producers in 2001, CEZ has sufficiently demonstrated its ability to succeed in a competitive environment and increase its sales. CEZ can use this expertise also to the benefit of the Bulgarian distribution companies.

Ladislav Kriz, CEZ Press Officer