This latest auction round is not imposed on CEZ by the UOHS (the Czech Office of Fair Trading), but it is a voluntary action on CEZ’s part, the company said in a statement.
By taking the action the company hopes it has explicitly declared its support for the development of a wholesale electricity market, in accordance with foreign models, and will accept market prices just as they arise in the auction.
CEZ has offered 500MW for the auction, which represents the remaining volume needed for full coverage of the needs of traders supplying electricity to end customers in the country.
CEZ Prodej (Sale), which is the Czech residential supply arm of the CEZ group, will gain wholesale electricity supplies from CEZ under the same conditions they will be sold by CEZ to other traders. CEZ says this will ensure a transparent and equitable wholesale market function.
