Due to enormous demand, CEZ will produce record electricity quantum next year and will not export to Germany and Austria, the company has revealed.
The demand in the auction for 500MW exceeded the offer almost five times. Twenty two traders who validly entered the auction, and 14 out of which were successful, submitted 167 bids. It was the last valid bid that determined the auction price of this internationally traded product at E44.15 per MWh.
Bids for other products (quarterly, monthly or weekly supplies that make up the supply for end customers) were submitted by 19 traders who validly entered the auction. The entrants demanded 12.5 TWh, which was nearly seven times more than in the previous year. However, prices were set by CEZ based on the price relations in the last years. The average increase in prices of these products was 10.8%.
Because of the high auction demand and a desire to meet domestic requirements, CEZ has decided not to export to Germany and Austria and to direct its supplies to the Czech Republic. The electricity that has been sold to customers in Germany and Austria up to now will be supplied from electricity bought on the local market.
On the top of that, CEZ has reassessed its production plan and, although it is shutting down two units in the Tusimice power plant to be renewed already in June next year, it has increased the production plan for 2007 to record 57 TWh.