Press releases pg. 19
Net (consolidated) profit of CEZ Group for the first half of this year increased by 41 per cent to 16.4 billion CZK
The CEZ Group reached the net profit of 16,433 million CZK for the first half of this year, which constitutes growth by almost 41 per cent as against last year. The increase results from the rise of trade margin, growth of the volume of sold and distributed electricity by almost one third, cost savings due to integration of CEZ Group and extension of the Group by the Romanian distribution firm Electrica Oltenia and recently by two Polish power plants (they affected the results only with one month). Also the first foreign acquisition of CEZ Group involving three Bulgarian distribution companies shows improved results. While revenues have grown, CEZ managed to keep the fixed costs under control.
15. 8. 2006
The auction results confirmed the price relations in the neighbouring countries
The winning bids for single units are from 16.4 % to 18 % up on this year´s wholesale electricity price. The average electricity price from the "Virtual Power Plant" auction for 2007 increased by 17.1 % in comparison to this year´s price and by 18.5 % compared to the virtual power plant prices in the previous year. The annual band price for 2007 amounts to roughly 1,220 CZK/MWh.
4. 8. 2006
It will be the traders at the auction for the "Virtual Power Plant" themselves who will determine the development of electricity prices in 2007
The result of the auction "Virtual Power Plant" will be the concrete sign of the anticipated development of wholesale prices of electricity in 2007 and the base for the following auctions for 2007. The auction last year collected the total number of 44 bids, which represented a fivefold excess of demand over the offer. Domestic as well as foreign traders offered prices which represented a 15 % increase in wholesale electricity prices on the Czech market for this year.
25. 7. 2006
New generation in the management of Severoceske doly
Jan Demjanovic has become the new chairman of the board of directors and general manager of Severoceske doly (SD). He has been the sales manager and a member of the board of directors of SD for many years and has been working in the mining industry for more than 27 years. He has replaced Vratislav Vajnar, the general manager and chairman of the board up to now.