According to CTK, CEZ will use methane from waste site in Moldavia. Thanks to the CDM (Clean Development Mechanism) project CEZ will save approximately 0.1m tons of CO2 annually. CEZ can use saved CO2 emissions to cover its needs in the Czech Republic or sell it. Our view: We see the news as neutral as CDM projects were planned in Action plan to lower CO2 emissions till 2020. Moldavian projects is one of the many that CEZ is currently engaged in and it provides only a fraction amount of CO2 credits.