CEZ agreed with OKD on 2005 coal prices yesterday. The company said coal prices are “slightly” higher, but did not disclose the value of the contract. According to earlier news OKD had tried to negotiate prices as much as 27% higher than last year's. CEZ said it already has coal-delivery contracts for this year with five other companies – Sokolovska Uhelna AS, Lignit Hodonin AS, Severoceske Doly AS, Appian Group AS and Gemec Union AS. Source: In our model we assume a 4% annual growth of coal prices.