{{Short description|Czech energy conglomerate}} {{Infobox company | name = ČEZ Group a.s. | logo = ČEZ Group logo.svg | logo_size = 150px | traded_as = PSE: [http://www.pse.cz/Cenne-Papiry/Detail.aspx?isin=CZ0005112300#OL CEZ]<br />WSE: [https://www.gpw.pl/karta_spolki_en/CZ0005112300/ CEZ]<br />{{FWB|CEZ}} | foundation = 1992 | location_city = Prague | key_people = Daniel Beneš (CEO) | location_country = Czech Republic | industry = Energy | products = electricity generation and distribution, natural gas, cell phone operator | revenue = {{nowrap |{{Increase}} US$12.7 billion (2022)<ref name=2022report>{{cite web |title=2022 Annual Financial Report |url=https://www.cez.cz/webpublic/file/edee/ospol/fileexport/investori/vz-2022/cez-group-annual-financial-report-2022-pdf.pdf |publisher=CEZ Group}}</ref> }} | operating_income = {{nowrap |{{Increase}} US$4.4 billion (2022)<ref name=2022report/> }} | net_income = {{nowrap |{{Increase}} US$3.5 billion (2022)<ref name=2022report/> }} | assets = {{nowrap |{{Increase}} US$31 billion (2022)<ref name=2022report/> }} | equity = {{nowrap |{{Increase}} US$8.75 billion (2022)<ref name=2022report/> }} | owner = Ministry of Finance (69.78%) | homepage = [http://www.cez.cz/en/home.html www.cez.cz] }} '''ČEZ Group''' ({{langx|cs|'Skupina ČEZ'}} '''Č'''eské '''E'''nergetické '''Z'''ávody) is a conglomerate of 96 companies (including the parent company '''ČEZ, a.s.'''), 72 of them in the Czech Republic. Its core business is the generation, distribution, trade in, and sales of electricity and heat, trade in and sales of natural gas, and coal extraction. ČEZ Group operates also in Germany, Hungary, Poland, Romania, Slovakia and Turkey. ČEZ, a.s. is listed on Prague Stock Exchange and Warsaw Stock Exchange.
ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its majority shareholder is the Czech government, owning 70% of shares. Its historical political activities have come under scrutiny.<ref name="Czech Power Games"/><ref name="Jiri Kominek 27 November 2009"/> According to the Economist, "though nominally state-run, many see the power flowing the other way: from CEZ's board into politics".<ref name="CEZ and Czech energy"/> Capital Group Companies invested 2.98% into ČEZ Group. Since 2011, when Daniel Beneš became the CEO these calls have faded out.<ref name="economistinsights.com">{{cite web|url=http://www.economistinsights.com/speaker/4435|title=Perspectives from The Economist Intelligence Unit (EIU)|website=Perspectives from The Economist Intelligence Unit (EIU)|access-date=25 October 2017}}</ref>
As of late 2010, the EU was investigating the company's activities.<ref name="CEZ and Czech energy"/> Comments made by third parties under the market test have shown no need to materially change the commitments proposed by ČEZ to the European Commission in June 2012. Under the Settlement Agreement, ČEZ undertakes to sell one of five specific power plants with an installed capacity of at least 800 MW.<ref>{{cite web|url=http://www.cez.cz/en/cez-group/media/press-releases/3977.html|title=Market Test Results Confirm the Settlement Agreement between ČEZ and the European Commission|website=CEZ Group|access-date=25 October 2017}}</ref>
In January 2013, Albania started a dispute by removing the CEZ license to operate in Albania. In June 2014 both parties agreed to settle a dispute. Albania will pay CEZ 100 million euros by 2018 in yearly installments, an amount roughly equal to CEZ's initial investment.<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2014-06-24/cez-reaches-100-million-euro-settlement-with-albanian-government|title=CEZ Reaches 100 Million-Euro Settlement With Albanian Government|date=24 June 2014|access-date=25 October 2017|website=Bloomberg}}</ref>
In February 2013, Bulgarians began to mass protests against the company and two other foreign-owned power distributors, suggesting the government to follow the case of Albania.<ref>{{cite web|url=http://www.novinite.com/view_news.php?id=147715|title=Bulgarians Rise Up against Shocking Electricity, Heating Bills |website= Novinite.com |agency= Sofia News Agency|access-date=25 October 2017}}</ref> All three were fined by Bulgarian competition watchdog. However, ČEZ said it had not breached Bulgarian and European laws and would launch an appeal against the ruling in court.<ref>{{Cite web |last=Staff |first=Emerging Europe |date=2019-11-13 |title=CEZ appeals ban on sale of assets to Eurohold Bulgaria |url=https://emerging-europe.com/business/cez-appeals-ban-on-sale-of-assets-to-eurohold-bulgaria/ |access-date=2024-10-30 |website=Emerging Europe |language=en-GB}}</ref>
In 2015, ČEZ scored first in Deloitte CEE Top 500 according to market cap and fourth in overall ranking <ref name="www2.deloitte.com">{{Cite web |url=https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/central-europe/ce_top500_2015.pdf |title=Deloitte Central Europe 2015 Top 500 |access-date=2015-10-13 |archive-date=2015-09-22 |archive-url=https://web.archive.org/web/20150922072144/http://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/central-europe/ce_top500_2015.pdf |url-status=dead }}</ref> and was elected overall winner of the 2015 Euromoney Best Managed Companies Survey for Central and Eastern Europe.<ref>{{cite web|url=http://www.euromoney.com/Article/3485409/Best-Managed-Companies-Survey-2015-Press-release.html|title=Best Managed Companies Survey 2015: Press release|website=Euromoney|date=3 September 2015 |access-date=25 October 2017}}</ref>
In March 2024, it was announced ČEZ had agreed to acquire a 55.21% stake in the Czech Republic gas distribution network operator, GasNet in a deal valued at €846.5 million.<ref>{{Cite web |date=2024-03-22 |title=CEZ to acquire majority stake in GasNet |url=https://www.worldpipelines.com/business-news/22032024/cez-to-acquire-majority-stake-in-gasnet/ |access-date=2024-03-22 |website=World Pipelines |language=en}}</ref> On October 29 a report came out stating that the company has signed an agreement with Rolls-Royce SMR to develop small modular reactors.<ref>{{Cite web |date=2024-10-29 |title=ČEZ signs cooperation agreement with Rolls Royce on development of small modular reactors |url=https://english.radio.cz/cez-signs-cooperation-agreement-rolls-royce-development-small-modular-reactors-8833013 |access-date=2024-10-30 |website=Radio Prague International |language=en}}</ref>
== Power stations ==
ČEZ Group is an operator of various energy sources. Most important energy sources are listed<ref>{{cite web|url=http://www.eru.cz/user_data/files/statistika_elektro/rocni_zprava/2009/index.htm|title=Energy Regulatory Office - ČEZ, a.s. installed power (31. 12. 2009)|access-date=25 October 2017}}</ref> (in the Czech Republic, if not indicated): *nuclear power plants **Temelín (2000 MW - 2 * 1086) **Dukovany (2000 MW - 4 * 510) *coal-fired power plants **Dětmarovice Power Station (800 MW - 4 * 200) **Hodonín Power Station (105 MW - 50 + 55) (world's third largest power plant fired by biomass List of largest power stations in the world) **Chvaletice Power Station (800 MW - 4 * 200) **Ledvice Power Station (330 MW - 3 * 110) **Mělník Power Station (770 MW - 2 * 110 + 500) **Počerady Power Station (1,000 MW - 5 * 200) **Poříčí Power Station (165 MW - 3 * 55) **Prunéřov Power Station (1,490 MW - 4 * 110 + 5 * 210) **Tisová Power Station (295 MW - 3 * 57 + 125 + 13) **Tušimice Power Station (800 MW - 4 * 200) **Elcho Power Station (Poland, 220 MW - 2 * 110) **Skawina Power Station (Poland, 492 MW) *hydroelectric power station **Lipno (122 MW) **Orlík (364 MW) **Kamýk (40 MW) **Slapy (144 MW) **Štěchovice (23 MW) **Vrané (14 MW) **Střekov (20 MW) *pumped storage plants **Dalešice (450 MW) **Dlouhé stráně (650 MW) **Štěchovice (45 MW) In 2015 CEZ operated 2,3 GW of hydro power plants in Europe and Asia, including the biggest pump storages. *wind power plants **Fântânele Wind Farm (Romania, 600 MW, the largest wind farm in Europe<ref>{{cite web|url=http://www.cez.cz/en/cez-group/media/press-releases/4051.html|title=The Largest Wind Farm in Europe Goes Into Trial Operation|website=CEZ Group|access-date=25 October 2017}}</ref> *solar power plants **Mimoň Solar Park (18 MW) **Ralsko Solar Park (38 MW) **Ševětín Solar Park (30 MW) **Vranovská Ves Solar Park (16 MW) *other smaller energy sources
=== Carbon intensity === ČEZ Group has invested more than CZK 200bn in development and in environmental measures during its modern history to increase efficiency and reduce emission of its power plants. Today, the ČEZ brand represents energy producers or suppliers in a total of 7 countries.
{| !Year !Production (TWh) !Emission (Gt CO<sub>2</sub>) !kg CO<sub>2</sub>/MWh |---- |2002 |54 |34.7 |643 |---- |2003 |61 |34 |557 |---- |2004 |62 |35.71 |575 |---- |2005 |60 |33.3 |555 |---- |2006 |66 |36.26 |553 |---- |2007 |73 |46.85 |640 |---- |2008 |68 |40.38 |597 |---- |2009 |65 |37.2 |569 |---- |2010 |68 |38.8 |568 |---- |2011 |69 |38.7 |560 |---- |2012 |69 |35.0 |509 |---- |2013 |67 |32.0 |480 |---- |2014 |63 |28.1 |446 |---- |} Source: Annual Reports<ref>{{cite web|url=http://www.cez.cz/en/investors/financial-reports/annual-reports.html|title=Annual reports|website=CEZ Group|access-date=25 October 2017}}</ref> {{See also|List of European power companies by carbon intensity}}
=== Electricity capacity and production ===
{| class="wikitable" |+ Installed Capacity (MW) ! 2008 !! 2009 !! 2010 !! 2011 !! 2012 !! 2013 !! 2014 !! |- | 14,288 || 14,395 || 15,018 || 15,122 || 15,779 || 15,199 || 16,038 |}
Source:Helgi Library;<ref name=":0">{{Cite web |title=CEZ at a Glance |url=https://www.helgilibrary.com/reports/cez-at-a-glance-dec-2013-helgi-analytics |access-date=2024-06-21 |website=www.helgilibrary.com |language=en}}</ref> Presentation for investors - August 2015<ref name=":1">{{Cite web |date=2015-08-01 |title=CEZ GROUP: THE LEADER IN POWER MARKETS OF CENTRAL AND SOUTHEASTERN EUROPE |url=https://www.cez.cz/edee/content/file/investors/investment-stories/equity-investors_august2015.pdf |access-date=2024-06-21 |website=cez.cz}}</ref>
{| class="wikitable" |+ Electricity Production (GWh) ! 2008 !! 2009 !! 2010 !! 2011 !! 2012 !! 2013 !! 2014 !! |- | 67,595 || 65,344 || 68,433 || 69,209 || 68,832 || 66,709 || 63,124 |}
Source:Helgi Library;<ref name=":0" /> Presentation for investors - August 2015<ref name=":1" />
== Shareholders and stock listing == In 1994 a minor stake in the company was privatized using voucher privatization. If citizens invested all their vouchers (sold for 1000,- Kčs) in ČEZ, they gained 33 stocks (330 current shares after stock split).<ref>{{cite news |url=http://ekonomika.idnes.cz/kuponova-privatizace-pokus-ktery-nema-obdoby-foa-/ekonomika.asp?c=A061008_203226_ekonomika_ad |title=Kuponová privatizace: pokus, který nemá obdoby |publisher=iDNES.cz |date=October 9, 2006 |access-date=August 27, 2014|language=cs}}</ref> In 2007 the Czech government decided to gradually sell another 7% stake of ČEZ on the stock market,<ref>{{cite news |url=http://www.radio.cz/cz/clanek/89510 |title=Vláda schválila prodej sedmi procent akcií společnosti ČEZ |author=Martina Lustigová |publisher=Czech Radio |date=March 3, 2007 |access-date=August 27, 2014|language=cs}}</ref> but due to the stock price fall during spring 2009, affected by 2008 financial crisis, selling was suspended. In 2008, the company decided to repurchase 9% of the company's shares.<ref>{{cite news |url=http://ekonomika.ihned.cz/c1-34381920-stat-navysil-svuj-podil-v-cez-na-temer-70-procent |title=Stát navýšil svůj podíl v ČEZ. Na téměř 70 procent |publisher=Hospodářské noviny |date=February 13, 2009 |access-date=August 27, 2014|language=cs}}</ref>
As of December 31, 2011, the Czech Republic represented by Ministry of Finance remained the company's largest shareholder with 69.78% stake in the stated capital.<ref name="CEZ Group Annual Report 2011">{{cite web |url=http://www.cez.cz/edee/content/file/investors/2011-annual-report/VZ2011aj.pdf |title=CEZ Group Annual Report 2011 |publisher=ČEZ |date=April 3, 2012 |access-date=August 27, 2014}}</ref> Other shareholders included: * Chase Nominees Ltd. (4.83%) * Citibank Europe plc (4.8%) * Private individuals (4.31%) * Československá obchodní banka (4.17%)
The company is traded on the Prague, Warsaw, Frankfurt and [http://www.rmsystem.cz/ RM-SYSTÉM Czech] stock exchanges.<ref name="CEZ Group Annual Report 2011" />
In October 2024, ČEZ took a 20% stake in Rolls-Royce SMR at a cost of "several hundred million pounds"; ČEZ plan to deploy up to 3 GWe of SMR generation capacity in the 2030s in the Czech Republic.<ref name=wnn-20241029>{{cite news |url=https://www.world-nuclear-news.org/articles/cez-takes-rolls-royce-smr-stake-plans-to-deploy-3gw-fleet |title=ČEZ takes Rolls-Royce SMR stake, plans to deploy 3GW fleet |website=World Nuclear News |date=29 October 2024 |access-date=11 February 2025}}</ref>
== Electric vehicles == The building of a network of public charging stations for electric vehicles got fully underway in 2011. The first public charging station – in front of ČEZ's headquarters in Prague's Duhová Street – opened on November 30, 2011. As of December 2011, seven CEZ Group public charging stations were in operation, in Prague and Chrášťany, Prague-West district.<ref name="CEZ Group Annual Report 2011"/> ČEZ's given charities electric cars to use and test. Between 50 and 100 electric cars being made available over the coming years. The first two vehicles – a Fiat Fiorino Combi and a Fiat Fiorino Cargo – went to a senior citizen health care charity based in Prague.<ref>{{cite web|url=http://www.autobloggreen.com/2009/07/18/report-czech-charities-will-test-dozens-of-electric-cars/|title=We Obsessively Cover the Green Scene|website=AutoblogGreen|access-date=25 October 2017}}</ref>
==Influence on politics== ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its influence on the Czech politics and connections to Russia have come under scrutiny.<ref name="Czech Power Games"/><ref name="Jiri Kominek 27 November 2009"/> According to the Economist, "though nominally state-run, many see the power flowing the other way: from ČEZ's board into politics".<ref name="CEZ and Czech energy"/>
The management of ČEZ has financed the country's largest political parties – the Civic Democratic Party (ODS) and the Social Democrats (ČSSD). One analysis points out that the financing has resembled that coming from PPF and J&T, two firms which have been highly active in Russia since the early 1990s (for example, Russia was one of the first international expansion destinations of Home Credit, a PPF-owned lending company) and their senior management is known to have links to the former Czechoslovak StB security service and the Soviet KGB.<ref name="Jiri Kominek 27 November 2009">[https://jamestownfoundation.blogspot.com/2009/11/czech-efforts-to-reduce-dependence-on.html Czech Efforts to Reduce Dependence on Russian Energy Faltering] by Jiri Kominek, Jamestown Foundation (27 November 2009)</ref>
In 2010, a Czech court ruled that, as a state-owned company, ČEZ must disclose political activities.<ref name="Czech Power Games"/>
Leaked pictures show politicians across political spectrum, including former Prime Minister Mirek Topolánek, holidaying with ČEZ lobbyists in Italy.<ref name="CEZ and Czech energy">[https://www.economist.com/business/2010/04/08/no-minister CEZ and Czech energy - No, minister]. April 8th 2010. The Economist.</ref><ref name="ihsglobalinsight.com">[http://www.ihsglobalinsight.com/SDA/SDADetail19274.htm Further Reputational Damage to ČEZ As EC Launches Third Inquiry Into Czech Electricity Market]. The Global Insight. 23 September 2010</ref>
As of late 2010 the European Union was investigating ČEZ. The company's offices were raided in November 2010.<ref name="CEZ and Czech energy"/><ref name="ihsglobalinsight.com"/>
ČEZ was said to have selected a mysterious company called CEEI to construct a billion dollar nuclear storage facility for the Czech Republic. The company's paper trace ends in U.B.I.E, a company registered in Liechtenstein. Russia's honorary consul is named as its director. The company is believed to be under Russian control.<ref name="Czech Power Games">[https://www.rferl.org/a/Czech_Mate_How_Russia_Is_Rebuilding_Influence_In_The_Former_Soviet_Bloc/2168090.html Czech Power Games: How Russia Is Rebuilding Influence In The Former Soviet Bloc]. RFE/EL. September 26, 2010</ref> CEEI's directors include Václav Klaus's former chief of staff (Jiří Kovář) and a man who is jail for kidnapping.<ref name="Czech Power Games"/>
In 2015, ČEZ scored first in Deloitte CEE Top 500 according to market cap and forth in overall ranking.<ref name="www2.deloitte.com"/>
==See also== {{Portal|Czech Republic|Energy}} * Energy in the Czech Republic
==References== {{Reflist|2}}
==External links== {{commons category|ČEZ Group}} * [http://www.cez.cz/presentation/eng/ ČEZ Group website] {{Webarchive|url=https://web.archive.org/web/20070217224146/http://www.cez.cz/presentation/eng/ |date=2007-02-17 }} * [http://www.helgilibrary.com/reports/index/cez-at-a-glance-dec-2013-helgi-analytics ČEZ Group Report]
{{PX companies}} {{WIG30 components}} {{Authority control}}
{{DEFAULTSORT:CEZ Group}} Category:Companies based in Prague Category:Energy companies established in 1992 Category:Companies listed on the Warsaw Stock Exchange Category:Companies in the Central European Blue Chip Index Category:Electric power companies of the Czech Republic Category:Nuclear power companies of the Czech Republic Category:1992 establishments in Czechoslovakia Category:Companies in the PX Index Category:Conglomerate companies of the Czech Republic