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CEZ Hungary News CEZ Group CEZ Group has taken out a licence for trading in Serbia

2006. 9. 14.

CEZ Group has taken out a licence for trading in Serbia

CEZ Group has acquired a licence for electricity trading in Serbia through its Serbian daughter company CEZ Serbija d.o.o. CEZ Group asked for the trading licence for Serbia with respect to the planned opening of the power market in the countries in South-Eastern Europe according to so called power association contract. The participating countries of South-Eastern Europe, including Serbia, underwrote to open regional power and gas markets, and so implement the union power guidelines and standards for environment protection by 2008.

We see Serbia as a country of emerging opportunities. It is not only a country belonging to the target region of our foreign expansion through acquisitions, but also through opening new businesses. The fact that we have obtained the licence confirms our serious interest in our participation in the Serbian power sector, although the licence is now rather a deposit for the future. What we want is to be ready before the moment the power market is opened and to contribute to its development, said Alan Svoboda, director of sales division of CEZ.

Serbia is becoming the ninth country where CEZ Group is going to trade electricity. Besides the Czech Republic, CEZ is a holder of power trading licences in Poland, Germany, Austria, Hungary, Romania and Bulgaria and in Slovakia.

CEZ Group is so continuing to fulfil its vision of becoming number one on power markets in Central and South-Eastern Europe. The expansion does not take place only through acquisitions of new companies, but also through development of business positions and trading across borders and within single countries.

Eva Novakova, Press Officer, CEZ, a. s.