Investor Presentaiton
A NUMBER OF DISPUTES BETWEEN 2005-2012 LED TO
THE SALE OF CHVALETICE AND SIGNATURE OF A
LONG-TERM CONTRACT WITH VUAS IN 2013
2005 An agreement between ČEZ and Czech Coal, a.s. about future long-term cooperation.
2007
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■ Czech Coal refused to sign a contract for long-term supply of lignite (due to a dispute about the price
of coal, which ultimately lasted until the end of 2012) and prevented ČEZ from building a new power plant in
Počerady, ČEZ decided to sue Czech Coal regarding this decision.
■ Czech Coal reached an agreement with E.ON to build a new plant for coal from the Vršany mine.
2009 The European Commission raided the ČEZ headquarters on suspicion of restraining competition. In
July 2011, an investigation of ČEZ was initiated. Among other things, ČEZ was suspected of blocking
capacity in the transmission network in order to restrain competition. All suspicions, except for this, were
disproved. ČEZ faced a possible fine up to tens of billions CZK, or forced sale of a part of its assets.
2012 Settlement agreement with the European Commission. ČEZ committed to sell an 800 MW source.
ČEZ prepared four options of the sale (Počerady, Chvaletice, Dětmarovice, Tisová + Mělník 3), a tender was
declared for 3 of them (complicated combination Tisová + Mělník 3 was a backup). Czech Coal and EPH
were interested in the lignite plants. More parties were interested in Dětmarovice (e.g. Gascontrol).
2013
■ At the end of the year, conditions of a new agreement with Czech Coal were negotiated (see last point).
■ ČEZ chose the most advantageous offer: selling Chvaletice to Czech Coal, via Litvinovská uhelná, and
hereby resolved its obligation to the EC.
■ Other power plants were not sold. The value of Počerady was higher than the best bid in light of the new
coal deal. The same was true for Dětmarovice.
ČEZ signed a long-term coal purchase contract for Počerady with Vršanská uhelná, the agreement ended
all bilateral disputes and significantly contributed to the settlement of the above-mentioned EC investigation.
16 Note: EC - European Commission, EPH - Energetický průmyslový holding, a.s., VUAS - Vršanská uhelná, a.s.
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