According to Bloomberg citing Energy Regulatory Office (ERU), net electricity consumption increased in July by 2.5% to 4.33TWh due to higher household’s consumption by 7.3%. CEZ estimates 2.6% y/y electricity consumption growth in August. Our view: We see the news as neutral as we have expected increase in electricity consumption in 2Q and 3Q. We expect CEZ electricity production in Czech Republic around 63.9TWh in 2007.