CEZ Group Energy Transformation and Financial Results
FINANCIAL AMBITIONS FOR 2022
HEDGING THE COST OF EMISSION ALLOWANCES AND GAS
Hedging the cost of generation in Czechia* for 2022
Emission Allowances
Natural Gas**
88 %
EUA
(t)
Purchased
Open
position
12%
57 %
(TWh)
43 %
Purchased
Open
position
Emission allowances-generation costs hedging
status
• The average purchase price of
14.7 million tons of emission allowances is 35 EUR/t.
•
Open position assumption of
2.1 million tons of EUAs
Natural gas-generation cost hedging status
• The average cost*** of natural gas in a volume of 3.1 TWh is 81
EUR/MWh.
Natural gas open position assumption of 2.4 TWh
In addition to the above, hedging the expected generation from CCGT
plants, CEZ Group has contracted 100% of the gas volume for 2022 for
existing end-use customers of ČEZ Prodej and ČEZ ESCO.
*
Hedging of net electricity generation volumes from companies CEZ, Energotrans, and Elektrárna Dětmarovice.
**
The gas purchase prices quoted correspond to the market prices as of December 31, 2021, at which they will effectively enter the 2022 results. The hedges
in question are revalued in the results of operations on an ongoing basis, as are the sales of electricity from gas plants, which are concluded simultaneously
*** Volume of generation from natural gas in 2022 may be significantly affected by market conditions and availability of the gas.
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