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Czech CEZ profit up in Q1

Power News - Published on Wed, 15 May 2019

Image Source: SteelGuru
AFP reported that Czech state-run power group CEZ had raised both profits and sales in the first quarter on higher power prices and increased output in its two nuclear plants. CEZ said in a statement that net profits rose by 14% against a year ago to 8.3 billion koruna (322 million euros, USD 362 million) and sales jumped by 12% to 51.8 billion koruna.

CEZ, which has plants in Bulgaria, Germany, Poland, Romania, Slovakia and Turkey, as well as planning for a wind park in France, is Europe's ninth largest power utility by customer numbers.

Mr Daniel Benes CEO and Chairman said that "After years of declines in prices of electricity, our results reflect a growth of power prices on wholesale markets and we managed to raise output by 1.1 terawatt-hours annually."

The company raised output in the Dukovany and Temelin nuclear plants in the southern Czech Republic by seven percent against a year ago to 7.6 terawatt-hours in the first quarter.

Its coal-fired power plants produced 7.4 terawatt-hours of power in the period, roughly the same amount as a year ago.

Mr Martin Novak deputy board chairman said that "We expect to produce 68.8 terawatt-hours in the full year, of which 31.2 terawatt-hours will come from nuclear plants."

Source :

Posted By : Rabi Wangkhem on Wed, 15 May 2019
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