ČEZ Not to Exercise Its Option to Sell Počerady Power Plant

The energy company ČEZ decided not to exercise its first option to sell the Počerady power plant to Vršanská uhelná a.s., a mining company from the Czech Coal group. ČEZ will still have another chance to sell the plant as of 2024 if it decides to do so.

ČEZ got these two options under a long-term contract for coal deliveries made with Vršanská uhelná in 2013. The contract secures coal deliveries to the Počerady power plant, and possibly ČEZ’s other generating facilities, potentially until 2060. This long-term contract, giving ČEZ confidence in future coal deliveries, and the fact that the power plant is currently undergoing another wave of environmental upgrades and will be ready for future operation as of next year were the reasons for this strategic decision made by ČEZ. ČEZ will thus continue owning and operating this largest lignite-fired power plant in its portfolio.

Ladislav Kříž, ČEZ’ Spokesperson

May 2015