Research (Investicniweb.cz)
Czech markets  |  April 15, 2013 15:38:03

Where can ČEZ recently burned fingers



On Tuesday, the Bulgarian state regulator address the issue of withdrawal of the license of the Czech energy company CEZ. We offer a selection of problematic cases in recent years.

Albania

In spring 2009, CEZ acquired a majority stake in the Albanian electricity distributor. CEZ Shpërndarje the end of last year, got into a dispute with the Albanian authorities, who accused her of being the damages owed roughly a billion dollars. In late January, the Office took firm CEZ Shpërndarje license for distribution of electricity on the grounds that it failed to ensure electricity imports and invest into the grid. ČEZ commenced action to arbitration with the Albanian state for damages for the loss of investment.

Bosnia

CEZ signed in May 2007 with the Republic of Srpska in Bosnia and Herzegovina, an agreement establishing a joint venture for energy project planned for 1.4 billion euros. The project included the construction of a coal-fired power plant Gacko II., Modernize power plants Gacko I. and expansion of mining in the coal mine adjacent to the east of the country. In 2009, ČEZ withdrew from the project and filed for arbitration against the partners in the project. According to the January issue of the Euro should be the first results are known before the end of this year.

Bulgaria

In early February 2013 hit Bulgaria protests against the high price of electricity. Demonstrators are demanding the nationalization of the regional structure of foreign energy providers - ČEZ and Czech Energo-Pro and Austrian EVN.Distribution company CEZ Bulgaria received from the Bulgarian authorities fined 15,000 leva (less than CZK 200,000) for violations of public procurement. In mid-March the Bulgarian Prosecutor General requested the withdrawal of the license of CEZ. State regulatory authority should deal with the issue on Tuesday revocation of licenses Czech company.

Temelin

In August 2009, CEZ launched a tender for the construction of two blocks of a nuclear power plant. The tender is known American Westinghouse, Atomstrojexport Russian and French Areva. Just last October, Areva CEZ excluded from the tender. French complained to antitrust authority (OPC), which in November issued a measure that ČEZ not yet signed a contract with a potential winner.This February, the Office stated that the exclusion of Areva CEZ did not break the law, the French appealed against the first instance decision. Critics point to the completion of Temelin problematic ROI. ČEZ because the state wants to guarantee a minimum purchase price of energy. This support, however, could run into the EU.

List of other unsuccessful investments ČEZ, please Investment Site

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