CEZ Heads for Worst Month in Seven as Electricity Price Tumbles
CEZ AS (CEZ), the biggest power utility in the Czech Republic, headed for its steepest monthly retreat since September as Europe’s economic slowdown sent the price of electricity to near an all-time low.
The stock lost 4.8 percent this month, adding to a 1.1 percent drop in March. CEZ gained 0.3 percent today to 759.9 koruna by 1:53 p.m. in Prague after three days of declines. The PX (PX) index rose 0.2 percent, paring April losses to 3.7 percent.
Power for next-year delivery in Germany, where CEZ exports part of its output, fell 0.3 percent today to 50.45 euros per megawatt-hour, taking its decline this month to 2.8 percent. The contract traded 0.3 euros shy of its record-low 50.15 reached on Jan. 16.
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