CEZ Trade Bulgaria finished its tender of electricity sales for the full year 2008. The volume of electricity that will be sold is 1.76TWh. The amount to be sold represents 40% of the free electricity market in Bulgaria. Our view: We see it positively that CEZ tries to make positive steps toward faster liberalization of Bulgarian electricity market. The electricity will be produce from power plant Varna (Bulgaria) where CEZ will use 200MW capacity, this amount represent around 1.5% of total CEZ Group capacity.