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Research & Studies

ČEZ unplugged

Claims that ČEZ abuses its market power are not new. The author examines the theoretical underpinnings and empirical evidence for market abuse in the Czech energy sector, demonstrating that the potential for abuse is real.

The report sets ČEZ in its regional and domestic market context, identifying five structural variables that determine ČEZ's profitability.

It argues that successful renewal of the Czech generation fleet is critical for maintaining such profitability, whereas foreign acquisitions are not. It concludes that future value depends on efficient execution of capital spending programs and that the risk of government failure to challenge value dilutive decisions of a management it appoints remains high.

This 30 page study is based upon models of western European electricity markets and our own analysis of primary source data.

AmCham Partners