According to the 2013 agreement that put an end to the many years of disputes concerning coal deliveries from Vršanská uhelná, the Počerady power plant has been sold, effective 2 January 2024.
The Supervisory Board of ČEZ confirmed at its session yesterday that Michaela Chaloupková, Administration Division Director, and Martin Novák, Finance Division Director, will continue their offices as members of the Board of Directors. Martin Novák’s next term of office will commence on 24 May 2020, while that of Michaela Chaloupková will begin on 1 January 2020. This will ensure continuity in key corporate management areas.
A large-capacity battery system for storing energy and testing various modes of the provided support services for the energy system of the Czech Republic commenced its operation on the premises of the Tušimice Power Station today. The device, activated within a joint BAART research project of ČEZ and ČEPS, was ceremonially opened by the Deputy Prime Minister and Minister of Industry and Trade Karel Havlíček, Chairman of the Board of Directors and General Director of ČEZ Daniel Beneš and Chairman of the Board of Directors of ČEPS Martin Durčák. It is yet another project that utilizes vast power station properties for solutions in the area of the “new power” energy.
The ČEZ Supervisory Board has approved the cancellation of the Stock Option Program for ČEZ management and has replaced it with a new, stricter system of long-term performance bonuses for members of the Board of Directors. This change was initiated by the Supervisory Board itself one year ago after its new members took up their offices. The new program of long-term performance bonuses improves the consistency of the interests of beneficiaries and shareholders and is linked to stock price, dividend distribution and performance of the company. Thus beneficiaries will, in the long run, participate in the growth or decline of shareholder value. The new system starts 1 .1. 2020.
CEZ Group’s net income rose by 49% to CZK 13.6 billion for the first three quarters of 2019, and its EBITDA reached CZK 44.7 billion, recording a 16% year-over-year growth. These increases can be attributed in particular to growing electricity selling prices and higher profits from commodity trading. Net income after extraordinary items reached CZK 14.7 billion.
INVEN CAPITAL invests in German company Zolar, a leader in digital solutions for rooftop photovoltaic systems.
INVEN CAPITAL, the CEZ Group’s investment fund that seeks out promising projects on the European energy start-up market, has acquired a minority share in German innovation company Zolar. This company provides digital solutions for rooftop photovoltaic installations and combined photovoltaic and battery systems. In addition to Inven Capital, BayWa r.e. Energy Ventures participated in this round of investment with a total volume of EUR 10 million. The existing investors Heartcore Ventures, Statkraft Ventures and Partech Ventures likewise increased their shares.
Today, CEZ officially launched the divestment process in Romania. The interest confirmed in writing by the potential investors will be followed by an invitation to submit non-binding offer. CEZ is considering selling seven companies in Romania, keeping only those engaged in energy services (ESCO) activities and part of trading. These steps are in line with CEZ Group's new strategy.
CEZ Group’s H1 operating income before tax (EBITDA) was CZK 32.1 billion, up 19% year-on-year. Net income increased by 45% to CZK 11.2 billion. The increase is primarily due to increased realization prices of generated electricity and higher revenue from commodity trading. Net income adjusted for extraordinary effects was CZK 12.0 billion.
At the weekend, Unit 2 of Temelín NPP started to produce electricity again. It has been shut down for refueling of from June 21. The outage lasted 50 days and, during it, the technicians replaced a quarter of the fuel, checked the safety systems and mastered over sixty various modernizations. The overall outage schedule included over 13 thousand activities. In the first halve of the week the Unit will achieve the full power. The Temelín's Unit 2 outage will be closely followed by Dukovany NPP Unit 1 outage. It starts on Friday, August 16.
Yesterday afternoon, Dukovany technicians brought special equipment from their colleagues from Temelín. Its task will be to perform complete diagnostics of a minor leak on one of the steam generators at the second production unit. Thanks to its unique properties, the device is able to provide a detailed status of the monitored material. The experts will then use the information to prepare the follow-up work. The checks will be extremely detailed and will take several days. As a result, the start-up of the unit will be postponed probably to the beginning of September. But all will very much depend on the positive results of the repair.