CEZ’s CEO Martin Roman repeated in the interview for HN daily plans to invest CZK 100m to CZK 200m (cEUR 3.5m – cEUR 7m) into new energy sources in coming years. Should the mining limits be broken CEZ might build one or two new power plants. CEZ already decided about the renewal of existing coal capacities, which creates 3/4 of CEZ capacities. Other plans for future development should be announced by mid-2006. As these news has already been known we see it as neutral and reiterate our Hold recommendation.