CEZ receives 3 bids in Detmarovice coal plant tender. BXR (NWR), EPH and Gascontrol bids were accepted. Ceska Energie bid was excluded as bid didn’t meet tender conditions. /Neutral, expected. We think Detmarovice power plant is worth at least 3 bln. CZK/
CEZ tumbled the most since June as trading accelerated to the highest in 20 months on speculation that falling electricity prices will dent earnings. The stock slipped 2.8 % to 643.1 CZK, the lowest close since March 2009. Nearly 2.1 mln. shares changed hands yesterday, which was four-times the daily average in the past 3 months and the biggest turnover since March 2011. Falling prices of CO2 allowances sent power for deliver next year in Germany, where CEZ exports part of its output, to 46.50 eur per MWh yesterday, the lowest since April 2010.