Long-term financing of the European economy
From the point of view of the energy sector, it has to be stated that the CEZ Group reduces investments because of the increasing uncertainty regarding the projection of development of the market situation and the regulation development in the energy sector.
Due to more exacting capital adequacy requirements we perceive a decreasing willingness of banks to provide long-term financing. Due to the short-term bank deposits we cannot expect in this regard a noticeable change in the behaviour of banks. Moreover, the European capital market allows companies to issue bonds with long maturities. Therefore, it is likely that the role of banks in this area will continue to decrease. According to our experience, there is no problem with issuing the long-term debts on the capital market. Over the last few years, ČEZ Group has issued several issues with maturity of at least 10 years.