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Power Company CEZ tenders for Bulgarian distribution firms

17. 2. 2004

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Power Company CEZ tenders for Bulgarian distribution firms

Power Company CEZ has submitted to the Bulgarian Privatization Agency preliminary bids for all three packages of privatized power distributors.

The Bulgarian and the Czech power industries have cooperated in the long term. Both sides can continue and strengthen their position within the liberalized European electricity market now. Both sides have an opportunity to create a strong grouping in the power industry of the former Eastern bloc within the whole Group. The grouping will become a worthy counterbalance to power groups of companies of the EU countries. Since the full opening of the electricity market to producers in 2001, CEZ has proved its ability to succeed in the competition, and has increased its sales. CEZ can use this know-how for the benefit of the Bulgarian regional distribution companies.

"Similarly to the case of Slovakian Power Plants, we are preparing teams to carry out "due diligence" (in-depth inspection of company´s economy) at Bulgarian distributors. In this case there will be only employees of Czech regional power plants of the CEZ Group beside representatives of consultant firms", said to that Ladislav Kriz, spokesman of CEZ.

Ladislav Kriz, Press Officer, CEZ, a. s.