Vladimír Urbánek (Kurzy.cz)
Czech markets  |  March 19, 2013 09:10:35

CEZ has entered into a long-term contract to supply coal to the power plant Počerady with a group of Czech Coal

Power company CEZ and Vršanská coal mining company of a group of Czech Coal finally affirmed by signing a contract that will ensure supply of coal for the power plant Počerady, and possibly up to almost 50 years. Due to the sustainability of the contract and the fact that significantly stabilize the situation in the whole market, not only coal, but also electricity, this is the conclusion of one of the most complex negotiations in the energy sector in the Czech Republic.

"The agreement may take up to a year 2060, because in today's very uncertain for energy, the period is an important stabilizing factor - not only for both companies, but also for the region, which will provide enough jobs and relateddevelopment. At the same time it opens up space for large investments in improving plant operation Počerady Vršany and down, "said Daniel Benes, Chairman and CEO of CEZ.

"This is good news for the entire North Bohemian region still critically endangered highest unemployment rate in the Czech Republic. The contract establishes a long-term perspective for the 1,300 employees directly in the group Czech Coal. Another approximately 3,200 people will be working out of the group in the service and supply companies. It's a unique guarantee great fading of job opportunities for many decades, "said CEO Vršanská coal Vladimir Roucek.

Power Počerady awaiting first major upgrade in 2016. It is also the first term, when he may agree with CEZ Czech Coal on its sale. A second option agreement provides for the 2024th The price is agreed in advance and moves at the menus from last year, when CEZ offered under the terms of the settlement agreement with the European Commission to sell several of its plants.

Czech Coal Group vice versa agreement will ensure the continued consumption of brown coal. He will, however, slightly lower than in previous years: fall from the current 8.5 to 5 million tons, ie by more than 40%. CEZ to give up all the calorific heat generation coal in the hearing, the only coal from taking cold Vršany for the near Počerady. This coal heating plant never did not carry.Our CHP recreate primarily to higher use of alternative fuels.

Vršanská coal plans over the next 10 years to invest about 10 billion CZK, especially in relaying networks Hořanský corridor and complex reconstruction of mining technology. These jobs are a great opportunity for suppliers from both the region and the whole country.

The price per GJ was set at CZK 38.8, which corresponds to the currently made at prices on the Czech market and is comparable to the price at which a long-term buy and heating company. By 2023, the price gradually approach the level of 65% of the price of coal on European exchanges (ARA).

After the 2024 agreement provides for the supply of coal and any new source in Počerady with permanent advantage of 0.35 ARA prices against competing sources in Germany and the option to sell ČEZ počeradské locations if the conditions in the energy markets will not build new coal Resources inclined.

Background to the price of ARA and its relation to the price of electricity:

ARA stands for the reference price of black coal parity in delivery to the ports of Amsterdam, Rotterdam and Antwerp (ARA). This coal mainly Australian and South African origin is cenotvorné for Germany and Central European region. Price is expressed in U.S. dollars per tonne. ARA value is very closely linked to the price of electricity in Germany and by extension in the Czech Republic because the German coal plants are closing for most of the time and act as a source of electricity cenotvorné.

Ladislav Kriz, CEZ spokesman

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