Open Access Articles- Top Results for %C4%8CEZ Group

ČEZ Group

ČEZ Group
Industry Energy
Founded 1992
Headquarters Prague, Czech Republic
Revenue 11px 209.76 billion CZK (2011)
#redirect Template:If affirmed 11px 40.8 billion CZK (2011)
Owner Ministry of Finance (69.78%)
Number of employees
26,647 (31.12.2013)[1]
File:Výjezdové vozidlo.JPG
Emergency situation vehicle of ČEZ company

ČEZ Group (Czech: Skupina ČEZ České Energetické Závody) is a conglomerate of 96 companies (including the parent company ČEZ, a.s.), 72 of them in the Czech Republic. It is involved in the electricity generation, trade, distribution and heat, as well as coal mining. CEZ Group operates also in Albania, Bulgaria, Germany, Hungary, Poland, Romania, Slovakia and Turkey. ČEZ, a.s. is listed on Prague Stock Exchange, and Warsaw Stock Exchange.

ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its political activities have recently come under scrutiny.[2][3] According to the Economist, "though nominally state-run, many see the power flowing the other way: from CEZ’s board into politics".[4] Capital Group Companies invested 2.98% into ČEZ Group. As of late 2010 the EU is investigating the company's activities.[4]

Comments made by third parties under the market test have shown no need to materially change the commitments proposed by ČEZ to the European Commission in June 2012. Under the Settlement Agreement, ČEZ undertakes to sell one of five specific power plants with an installed capacity of at least 800 MW.[5]

In January 2013 Albania removed CEZ license to operate in Albania. In February 2013 Bulgarians began to mass protests against the company, suggesting the government to follow the case of Albania.[6]

Power stations

Temelín Nuclear Power Plant
Dukovany Nuclear Power Plant
File:Hráz Mohelna.jpg
Mohelno Hydroelectric Power Plant
File:Fântânele-Cogealac Wind Farm 2011.jpg
Fântânele-Cogealac Wind Farm, Romania

ČEZ Group is an operator of various energy sources. Most important are listed[7] (in the Czech Republic, if not indicated):

Carbon intensity

Year Production (TWh) Emission (Gt CO2) kg CO2/MWh
2002 54 34.7 643
2003 61 34 557
2004 62 35.71 575
2005 60 33.3 555
2006 66 36.26 553
2007 73 46.85 640
2008 68 40.38 597
2009 65 37.2 569

Electricity capacity and production

Installed Capacity (MW)
2008 2009 2010 2011 2012
14,288 14,395 15,018 15,122 15,781

Source:Helgi Library [9]

Electricity Production (GWh)
2008 2009 2010 2011 2012
67,595 65,344 68,433 69,209 68,832

Source:Helgi Library [9]

Shareholders and stock listing

In 1994 a minor stake in the company was privatized using voucher privatization. If citizens invested all their vouchers (sold for 1000,- Kčs) in ČEZ, they gained 33 stocks (330 current shares after stock split).[10] In 2007 the Czech government decided to gradually sell another 7% stake of ČEZ on the stock market,[11] but due to the stock price fall during spring 2009, affected by financial crisis, selling was suspended. In 2008 the company decided to repurchase 9% of the company's shares.[12]

As of December 31, 2011, the Czech Republic represented by Ministry of Finance remained the company’s largest shareholder with 69.78% stake in the stated capital.[13] Other shareholders included:

The company is traded on the Prague, Warsaw, Frankfurt and RM-SYSTÉM Czech stock exchanges.[13] and since 2001 company is paying annual dividends.

Electric vehicles

The building of a network of public charging stations for electric vehicles got fully underway in 2011. The first public charging station – in front of ČEZ’s headquarters in Prague’s Duhová Street – opened on November 30, 2011. As of December 2011, seven CEZ Group public charging stations were in operation, in Prague and Chrášťany, Prague-West district.[13] ČEZ's given charities electric cars to use and test. Between 50 and 100 electric cars being made available over the coming years. The first two vehicles – a Fiat Fiorino Combi and a Fiat Fiorino Cargo – went to a senior citizen health care charity based in Prague.[14]

Influence on politics

ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its influence on the Czech politics and connections to Russia have recently come under scrutiny.[2][3] According to the Economist, "though nominally state-run, many see the power flowing the other way: from ČEZ’s board into politics".[4]

The management of ČEZ has financed the country’s largest political parties – the Civic Democratic Party (ODS) and the Social Democrats (CSSD). One analysis points out that the financing has resembled that coming from PPF and J&T, two firms which have been highly active in Russia since the early 1990s and their senior management is known to have links to the former Czechoslovak StB security service and the Soviet KGB.[3]

A Czech court recently ruled that, as a state-owned company, CEZ must disclose political activities.[2]

Leaked pictures show politicians across political spectrum, including a former Prime Minister, holidaying with ČEZ lobbyists in Italy.[4][15]

As of late 2010 the European Union is investigating ČEZ. The company's offices were raided in November 2010.[4][15]

ČEZ selected a mysterious company called CEEI to construct a billion dollar nuclear storage facility for the Czech Republic. The company's paper trace ends in U.B.I.E, a company registered in Liechtenstein. Russia's honorary consul is named as its director. The company is believed to be under Russian control.[2] CEEI's directors include Václav Klaus's former chief of staff (Jiří Kovář) and a man who is jail for kidnapping.[2]


  1. ^ CEZ Group Annual Report 2013, page 64
  2. ^ a b c d e Czech Power Games: How Russia Is Rebuilding Influence In The Former Soviet Bloc. RFE/EL. September 26, 2010
  3. ^ a b c Czech Efforts to Reduce Dependence on Russian Energy Faltering by Jiri Kominek, Jamestown Foundation (27 November 2009)
  4. ^ a b c d e CEZ and Czech energy - No, minister. April 8th 2010. The Economist.
  5. ^ Market Test Results Confirm the Settlement Agreement between ČEZ and the European Commission
  6. ^
  7. ^ Energy Regulatory Office - ČEZ, a.s. installed power (31. 12. 2009)
  8. ^ CEZ Group: The Largest Wind Farm in Europe Goes Into Trial Operation
  9. ^ a b | | 2014-02-09
  10. ^ "Kuponová privatizace: pokus, který nemá obdoby" (in čeština). October 9, 2006. Retrieved August 27, 2014. 
  11. ^ Martina Lustigová (March 3, 2007). "Vláda schválila prodej sedmi procent akcií společnosti ČEZ" (in čeština). Czech Radio. Retrieved August 27, 2014. 
  12. ^ "Stát navýšil svůj podíl v ČEZ. Na téměř 70 procent" (in čeština). Hospodářské noviny. February 13, 2009. Retrieved August 27, 2014. 
  13. ^ a b c "CEZ Group Annual Report 2011" (PDF). ČEZ. April 3, 2012. Retrieved August 27, 2014. 
  14. ^
  15. ^ a b Further Reputational Damage to ČEZ As EC Launches Third Inquiry Into Czech Electricity Market. The Global Insight. 23 September 2010

External links

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