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CEZ Plans to Presell Almost All 2013 Power, Patria.cz Reports

Aug. 15 (Bloomberg) -- CEZ AS plans to presell almost all its 2013 power production by the end of the year, which is a “standard” pace, as it doesn’t expect any “significant” changes of electricity prices in the near term, Chief Financial Officer Martin Novak told Patria.cz in an interview.

The biggest impulse for a shift of prices would be a revision of parameters for trading with emission allowances on the European Union level, Novak told Patria.cz. The timing of this step is uncertain and it’s not clear whether this revision would happen at all, Novak told Patria.

The company plans to keep its dividend payout ratio and is “definitely” not considering a share buyback because of its “extensive” investment plan and the intention to build new units at Temelin nuclear plant, Novak told Patria.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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