http://www.cez.cz/en/cez-group/media/press-releases/ Press releases and news en Edee CMS http://blogs.law.harvard.edu/tech/rss 60 http://www.cez.cz/en/cez-group/media/press-releases/3633.html The contractual relationships between CEZ and Skoda Power have been at arm’s length and set in a usual formal manner, including provisions on liquidated damages. Having examined the documentation pertaining to CEZ’s contracts for Skoda Power, Internal Audit found no evidence of informal relations that would indicate any improper, unethical or corrupt conduct. Wed, 11 Jan 2012 09:26:00 +0100 http://www.cez.cz/en/cez-group/media/press-releases/3633.html http://www.cez.cz/en/cez-group/media/press-releases/3623.html On October 31, 2011, ČEZ submitted its “Final Reports” on stress tests conducted at Czech nuclear power plants. After their evaluation, the State Office for Nuclear Safety prepared a “National Report” and submitted it to the European Commission. Mon, 02 Jan 2012 15:46:00 +0100 http://www.cez.cz/en/cez-group/media/press-releases/3623.html http://www.cez.cz/en/cez-group/media/press-releases/3679.html Prague, 23 November 2011 – A project named Grid4EU, aimed at the development of smart grids in the European Union, has been launched officially. It is so far the largest demonstration project in power engineering supported by the European Union. Six European energy companies are taking part in it – including CEZ Group. Wed, 23 Nov 2011 15:24:00 +0100 http://www.cez.cz/en/cez-group/media/press-releases/3679.html http://www.cez.cz/en/cez-group/media/press-releases/3555.html The CEZ Group has today announced its financial results for the first three quarters of 2011 and its expected all-year figures. As expected, CEZ’ Operating Profit Before Tax declined by 6.9% year on year to CZK 62.4 billion. This is due to lower effective prices of electricity resulting from the economic crisis, which reduced the forward contract prices in 2008 – 2010 when the CEZ Group sold its power to be generated in 2011. Another negative factor was a lower hedging CZK/EUR exchange rate due to the ongoing appreciation of the crown toward the euro but also a lower amount of power generated by hydro power stations due to deteriorated hydrological conditions. These negative factors were countered by measures aimed to optimize the use of production sources and a greater gross margin as well as the generation of power from renewable sources, primarily in foreign countries. Wed, 09 Nov 2011 08:00:00 +0100 http://www.cez.cz/en/cez-group/media/press-releases/3555.html http://www.cez.cz/en/cez-group/media/press-releases/3537.html CEZ has today handed over an Invitation to Submit Bid with the relevant Tender Documentation to the three candidates that have qualified for the tender for the public contract of “Completion of the Temelin Nuclear Power Plant”. Mon, 31 Oct 2011 14:47:00 +0100 http://www.cez.cz/en/cez-group/media/press-releases/3537.html http://www.cez.cz/en/cez-group/media/press-releases/3520.html At today’s session the Board of Directors of CEZ elected Mr. Martin Novak as its Vice- Chairman. Thu, 20 Oct 2011 17:05:00 +0200 http://www.cez.cz/en/cez-group/media/press-releases/3520.html http://www.cez.cz/en/cez-group/media/press-releases/3517.html The Supervisory Board of CEZ has today elected two new members of CEZ’ Board of Directors and discussed a proposal of Mr. Daniel Benes, the new Chairman of the Board of Directors and Chief Executive Officer of CEZ, for corporate organization structure changes that should take effect from January 1, 2012. This is the first step to slim down and render more efficient the company’s line management at the top level and to prepare the CEZ Group for the consolidation of its subsidiary firms’ activities too. Additional restructuring measures aimed to reduce the number of divisions and top managerial posts is planned for mid next year, when the current 11 divisions should be restructured to form just 8 or possibly 9. At today's session of the Supervisory Board, Mr. Martin Riman announced his resignation as member of the Supervisory Board and member of the Audit Committee with effect from December 20, 2011. Thu, 20 Oct 2011 14:01:00 +0200 http://www.cez.cz/en/cez-group/media/press-releases/3517.html http://www.cez.cz/en/cez-group/media/press-releases/3457.html The Board of Directors of CEZ has elected Daniel Benes, former Vice-Chairman of the Board and Executive Director of CEZ, as its Chairman. He has replaced Martin Roman who resigned yesterday. Daniel Benes has thus also become CEZ’ Chief Executive Officer. CEZ’ Supervisory Board has today also co-opted Martin Roman as its new member and elected him Chairman of the Supervisory Board. Thu, 15 Sep 2011 15:03:00 +0200 http://www.cez.cz/en/cez-group/media/press-releases/3457.html http://www.cez.cz/en/cez-group/media/press-releases/3418.html The Net Profit of CZK 23.9 billion recorded by the ČEZ Group for the first six months of this year have already exceeded the profit generated by its much bigger rival, the German-based group of E.On (EUR 948 million, equivalent to some CZK 22.8 billion). Although the energy sector is still affected by the global crisis aftermath connected with low electricity prices, ČEZ has raised its expected 2011 profit level to CZK 40.6 billion. Mon, 15 Aug 2011 18:13:00 +0200 http://www.cez.cz/en/cez-group/media/press-releases/3418.html http://www.cez.cz/en/cez-group/media/press-releases/3404.html The CEZ Group is going to acquire Energotrans, a company supplying heat from Melnik to Prague, and to sell its 50% equity stake in MIBRAG, a mining corporation, to the other shareholder, holding contractual right, Energeticky a prumyslovy holding. This transaction has been approved by all competent CEZ Group’s bodies. Thu, 28 Jul 2011 17:24:00 +0200 http://www.cez.cz/en/cez-group/media/press-releases/3404.html