According to CTK, CEZ started retrofit of coal-fired power plant Tusimice II. During the project 4x200MW boilers will be replaced and project total investment will be CZK 25bn. This retrofit will improve power plant efficiency and decrease CO2 production. Our view: The reconstruction of Tusimice II. was planned so we see the news as neutral. After the completion of Tusimice II., Prunerov and Pocerady will go through the same process.