CEZ increased generation of electricity from renewables by 33% y/y to 1.17 TWh in 1H2006 (less than 3% of CEZ’s 2005 production). The main increase was in generation from biomass, and also water sources.
Our view:
CEZ already informed earlier this year about its plan to invest CZK 30bn over next 15 years to renewable energy sources and thus increase its share on production mix. However coal and nuclear generation remain crucial for CEZ. We see the news as neutral without impact on today’s trading.