Business

CEZ’s Net Profit Up 9% In H1

ČEZ’s net profit grew by nine percent year-on-year to CZK 14.7 billion in the first half of the year. Operating profit before depreciation (EBITDA) increased by 11 percent to CZK 38.7 billion, CEZ’s operating revenues increased by six percent to CZK 106.3 billion, the company announced today. The company reported that the coronavirus pandemic had […]

CEZ Sells Two Polish Wind Farms To KGAL

CEZ Energy Group has sold the Krasin and Sakówko wind power plants in Poland to KGAL. The company expects to sell the remaining four Polish wind projects by the end of the year. ČEZ would like to start selling the central part of Polish assets: the Skawina and Chorzów coal-fired power plants and other assets […]

Zatecka Teplarenska Fined CZK 2.25M For Subsidy Fraud

Žatecká teplárenská (ZT) has been ordered to pay CZK 2 million for committing EU subsidy fraud. In 2016 ZT, falsified an EU subsidy application for a CZK 80 million project. The EU subsidy covered 85 percent of the costs, and the State Environmental Fund (SEF) paid the remainder of the balance. The Ústí nad Labem […]