The Energy Regulatory Office will hold a press conference today at 11:00 on 2005 electricity, natural gas and heating prices for households and small businesses. Electricity prices are expected to increase by about 4.4% as of Jan. 1, 2005. Power prices are adjusted once a year based on wholesale prices. Large companies already have the right to choose power suppliers and buy power directly at unregulated prices.
Also CEZ is interested in acquiring a stake in Polish power plant Patnow Adamow Konin, reported a Polish newspaper today. Other potential bidders are Spanish Iberdrola and Swedish Vattenfall. Elektrim, which holds a 38.5% stake in PAK, and the Polish Treasury with a 50% stake, agreed to look for an investor last week, as the power company needs modernisation. The information that CEZ is looking to Poland for acquisition targets is not new. Source: Bloomberg
On a separate note, CEZ will hold a conference call on 9M2004 IFRS results and the company strategy at 16:00 CET today. Dial in number: ++44 207 1620197.
Tomáš Gatěk, Patria Finance