Today the Cabinet will discuss an application for a transition period to last until 2008 to implement the excise taxes on coal, natural gas and electricity. These are obligatory in the European Union, which the Czech Republic is scheduled to join in May 2004. While negative, the magnitude of the impact on CEZ depends on the effective timing, and especially on the structure and size of the tax. Since it is known the taxes will be implemented, the stock should not react.
Jitka Oppitzová