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ČEZ Group

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ČEZ Group
TypePublic
PSE: BAACEZ
WSE: CEZ[1]
ISINCZ0005112300 Edit this on Wikidata
IndustryEnergy
Founded1992
Headquarters
Prague
,
Czech Republic
Key peopleDaniel Beneš (chairman and CEO)[2]
ProductsElectricity, district heating, natural gas
ServicesElectricity generation, energy distribution and supply, energy services
RevenueDecrease CZK 333.39 billion (2025)[3]
Decrease CZK 80.15 billion (2025)[3]
Decrease CZK 27.40 billion (2025)[3]
Total assetsDecrease CZK 864.61 billion (2025)[3]
Total equityIncrease CZK 249.95 billion (2025)[3]
OwnerCzech Republic through the Ministry of Finance (69.78%, 2025)[3]
Number of employees
33,590 (2025)[3]
Websitewww.cez.cz/en/

ČEZ Group (Czech: 'Skupina ČEZ' České Energetické Závody) is a conglomerate of 96 companies (including the parent company ČEZ, a.s.), 72 of them in the Czech Republic. Its core business is the generation, distribution, trade in, and sales of electricity and heat, trade in and sales of natural gas, and coal extraction. ČEZ Group operates also in Germany, Hungary, Poland, Romania, Slovakia and Turkey. ČEZ, a.s. is listed on Prague Stock Exchange and Warsaw Stock Exchange.

ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its majority shareholder is the Czech government, owning 70% of shares. Its historical political activities have come under scrutiny.[4][5] According to The Economist, "though nominally state-run, many see the power flowing the other way: from CEZ's board into politics".[6] Capital Group Companies invested 2.98% into ČEZ Group. Since 2011, when Daniel Beneš became the CEO these calls have faded out.[7]

As of late 2010, the EU was investigating the company's activities.[6] Comments made by third parties under the market test have shown no need to materially change the commitments proposed by ČEZ to the European Commission in June 2012. Under the Settlement Agreement, ČEZ undertakes to sell one of five specific power plants with an installed capacity of at least 800 MW.[8]

In January 2013, Albania started a dispute by removing the CEZ license to operate in Albania. In June 2014 both parties agreed to settle a dispute. Albania will pay CEZ 100 million euros by 2018 in yearly installments, an amount roughly equal to CEZ's initial investment.[9]

In February 2013, Bulgarians began to mass protests against the company and two other foreign-owned power distributors, suggesting the government to follow the case of Albania.[10] All three were fined by Bulgarian competition watchdog. However, ČEZ said it had not breached Bulgarian and European laws and would launch an appeal against the ruling in court.[11]

In 2015, ČEZ scored first in Deloitte CEE Top 500 according to market cap and fourth in overall ranking [12] and was elected overall winner of the 2015 Euromoney Best Managed Companies Survey for Central and Eastern Europe.[13]

In March 2024, it was announced ČEZ had agreed to acquire a 55.21% stake in the Czech Republic gas distribution network operator, GasNet in a deal valued at €846.5 million.[14] On October 29 a report came out stating that the company has signed an agreement with Rolls-Royce SMR to develop small modular reactors.[15]

Power stations

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The following table lists selected ČEZ Group generating facilities and their installed electrical capacity as of 31 December 2025. Facilities are in the Czech Republic unless another country is indicated.[16]

Selected generating facilities
Facility Type Electrical capacity
(MW)
Dukovany Nuclear 2,096
Temelín 2,250
Dětmarovice Coal-fired 600
Energotrans II 220
Ledvice III 110
Ledvice IV 660
Prunéřov II 750
Tušimice II 800
Hodonín Coal and biomass 107
Poříčí II 165
Počerady II Gas-fired combined cycle 845
Kamýk Hydroelectric 40
Lipno I 139
Orlík 364
Slapy 144
Střekov 19.5
Štěchovice I 22.5
Vrané 14
Dalešice Pumped storage 475
Dlouhé Stráně I 650
Štěchovice II 45
Janov Wind 4.1
Věžnice 4.2
Lettweiler Höhe (Germany) 35.4
Datteln (Germany) 11.4
Nortorf (Germany) 11.4
Aschères-le-Marché (France) 12
Neuville-aux-Bois (France) 15
Ralsko Solar photovoltaic 55.7
Ševětín 30
Vranovská Ves 16
Deubach (Germany) 48.4

Dětmarovice's generation licence expired on 27 February 2026. Hodonín and Poříčí II also supply heat; their capacities above refer only to electricity generation.[16]

Electricity capacity, generation and emissions

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Year Installed capacity

(MW)

 Gross generation

(GWh)

 Emissions intensity

(t CO2e/MWh)

2017 14,864 62,887 0.41
2018 14,848 63,081 0.40
2019 14,643 64,635 0.38
2020 12,933 60,946 0.34
2021 11,832 56,008 0.29
2022 11,836 54,302 0.29
2023 11,943 51,451 0.27
2024 12,067 50,618 0.27
2025 11,584 51,185 0.24

Capacity and generation figures are from ČEZ's 2019 annual report for 2017–2019,[17] and its consolidated operating indicators for 2020–2025.[18] Emissions-intensity figures are from the 2024 Sustainable Financing Framework for 2017–2022,[19] the 2023 sustainability report for 2023,[20] and the 2025 annual report for 2024–2025.[21]

Emissions intensity covers electricity and heat generation; changes in the group's generating portfolio affect comparisons between years.[19][21]

Operations

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ČEZ Group’s main business is in the Czech Republic. It also operates power plants and provides energy services in other European countries.[22]

Distribution and supply

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ČEZ Distribuce operates an electricity distribution network covering about two-thirds of Czech territory. More than 3.8 million delivery points were connected to it at the end of 2025.[23] Another subsidiary, ČEZ Prodej, sells electricity and natural gas to households and businesses.[24]

GasNet’s distribution network covers most of the country, excluding Prague and South Bohemia. Gas Distribution serves South Bohemia and part of Vysočina and joined ČEZ Group in January 2026.[25]

Energy services

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In the Czech Republic, ČEZ ESCO installs and operates rooftop solar systems and combined heat and power units for businesses and public bodies. It also modernises heating systems and public lighting.[26]

Elevion’s subsidiaries provide energy services in Germany and other countries. They install electrical systems, heating and cooling equipment in buildings. Their work also includes building solar power plants and battery storage facilities and maintaining them once in operation.[26]

Mining

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Severočeské doly operates the Bílina and Nástup Tušimice brown-coal mines. Most of its production supplies ČEZ Group’s power stations and heating plants.[27]

Shareholders and stock listing

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In 1994 a minor stake in the company was privatized using voucher privatization. If citizens invested all their vouchers (sold for 1000,- Kčs) in ČEZ, they gained 33 stocks (330 current shares after stock split).[28] In 2007 the Czech government decided to gradually sell another 7% stake of ČEZ on the stock market,[29] but due to the stock price fall during spring 2009, affected by 2008 financial crisis, selling was suspended. In 2008, the company decided to repurchase 9% of the company's shares.[30]

As of 31 December 2025, the Czech Republic, represented by the Ministry of Finance, held 69.78% of ČEZ's share capital and 69.93% of its voting rights. Other shareholders with holdings above 1% were Belviport Trading Limited (2.42%), PPF banka (1.58%) and Chase Nominees Limited (1.26%).[31]

The company is traded on the Prague, Warsaw, Frankfurt and RM-SYSTÉM Czech stock exchanges.[32]

In October 2024, ČEZ took a 20% stake in Rolls-Royce SMR at a cost of "several hundred million pounds"; ČEZ plan to deploy up to 3 GWe of SMR generation capacity in the 2030s in the Czech Republic.[33]

Electric vehicle charging

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ČEZ operates a public electric vehicle charging network in the Czech Republic under the futurego brand.[34] Its first public charging station opened outside its headquarters in Prague on 30 November 2011.[35]

By the end of 2025, ČEZ operated 1,048 public charging stations with a combined charging power of 109.5 MW. The stations delivered almost 15 GWh of electricity during the year. Its subsidiary ČEZ ESCO also installs charging stations for businesses and municipalities.[34]

Influence on politics

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ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its influence on the Czech politics and connections to Russia have come under scrutiny.[4][5] According to the Economist, "though nominally state-run, many see the power flowing the other way: from ČEZ's board into politics".[6]

The management of ČEZ has financed the country's largest political parties – the Civic Democratic Party (ODS) and the Social Democrats (ČSSD). One analysis points out that the financing has resembled that coming from PPF and J&T, two firms which have been highly active in Russia since the early 1990s (for example, Russia was one of the first international expansion destinations of Home Credit, a PPF-owned lending company) and their senior management is known to have links to the former Czechoslovak StB security service and the Soviet KGB.[5]

In 2010, a Czech court ruled that, as a state-owned company, ČEZ must disclose political activities.[4]

Leaked pictures show politicians across political spectrum, including former Prime Minister Mirek Topolánek, holidaying with ČEZ lobbyists in Italy.[6][36]

As of late 2010 the European Union was investigating ČEZ. The company's offices were raided in November 2010.[6][36]

ČEZ was said to have selected a mysterious company called CEEI to construct a billion dollar nuclear storage facility for the Czech Republic. The company's paper trace ends in U.B.I.E, a company registered in Liechtenstein. Russia's honorary consul is named as its director. The company is believed to be under Russian control.[4] CEEI's directors include Václav Klaus's former chief of staff (Jiří Kovář) and a man who is jail for kidnapping.[4]

In 2015, ČEZ scored first in Deloitte CEE Top 500 according to market cap and forth in overall ranking.[12]

See also

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References

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  1. ↑ "Basic information on shares". ČEZ. Retrieved 2 October 2026.
  2. ↑ "Board of Directors". ČEZ. Retrieved 2 October 2026.
  3. 1 2 3 4 5 6 7 CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026.
  4. 1 2 3 4 5 Czech Power Games: How Russia Is Rebuilding Influence In The Former Soviet Bloc. RFE/EL. September 26, 2010
  5. 1 2 3 Czech Efforts to Reduce Dependence on Russian Energy Faltering by Jiri Kominek, Jamestown Foundation (27 November 2009)
  6. 1 2 3 4 5 CEZ and Czech energy - No, minister. April 8th 2010. The Economist.
  7. ↑ "Perspectives from The Economist Intelligence Unit (EIU)". Perspectives from The Economist Intelligence Unit (EIU). Retrieved 25 October 2017.
  8. ↑ "Market Test Results Confirm the Settlement Agreement between ČEZ and the European Commission". CEZ Group. Retrieved 25 October 2017.
  9. ↑ "CEZ Reaches 100 Million-Euro Settlement With Albanian Government". Bloomberg. 24 June 2014. Archived from the original on 25 October 2012. Retrieved 25 October 2017.
  10. ↑ "Bulgarians Rise Up against Shocking Electricity, Heating Bills". Novinite.com. Sofia News Agency. Retrieved 25 October 2017.
  11. ↑ Staff, Emerging Europe (2019-11-13). "CEZ appeals ban on sale of assets to Eurohold Bulgaria". Emerging Europe. Retrieved 2024-10-30.
  12. 1 2 "Deloitte Central Europe 2015 Top 500" (PDF). Archived from the original (PDF) on 2015-09-22. Retrieved 2015-10-13.
  13. ↑ "Best Managed Companies Survey 2015: Press release". Euromoney. 3 September 2015. Retrieved 25 October 2017.
  14. ↑ "CEZ to acquire majority stake in GasNet". World Pipelines. 2024-03-22. Retrieved 2024-03-22.
  15. ↑ "ČEZ signs cooperation agreement with Rolls Royce on development of small modular reactors". Radio Prague International. 2024-10-29. Retrieved 2024-10-30.
  16. 1 2 CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026. pp. 84–88.
  17. ↑ CEZ Group 2019 Annual Report (PDF) (Report). ČEZ. 2020.
  18. ↑ "Basic financial data". ČEZ. Retrieved 2 October 2026.
  19. 1 2 Sustainable Financing Framework (PDF) (Report). ČEZ. April 2024. p. 12.
  20. ↑ CEZ Group Sustainability Report 2023 (PDF) (Report). ČEZ. 2024. p. 29.
  21. 1 2 CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026. p. 352.
  22. ↑ CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026. pp. 60–61.
  23. ↑ CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026. p. 72.
  24. ↑ CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026. pp. 75–76.
  25. ↑ CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026. p. 73.
  26. 1 2 CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026. pp. 77–78.
  27. ↑ CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026. p. 70.
  28. ↑ "Kuponová privatizace: pokus, který nemá obdoby" (in Czech). iDNES.cz. October 9, 2006. Retrieved August 27, 2014.
  29. ↑ Martina Lustigová (March 3, 2007). "Vláda schválila prodej sedmi procent akcií společnosti ČEZ" (in Czech). Czech Radio. Retrieved August 27, 2014.
  30. ↑ "Stát navýšil svůj podíl v ČEZ. Na téměř 70 procent" (in Czech). Hospodářské noviny. February 13, 2009. Retrieved August 27, 2014.
  31. ↑ "Shareholders". ČEZ. Retrieved 2 October 2026.
  32. ↑ "CEZ Group Annual Report 2011" (PDF). ČEZ. April 3, 2012. Retrieved August 27, 2014.
  33. ↑ "ČEZ takes Rolls-Royce SMR stake, plans to deploy 3GW fleet". World Nuclear News. 29 October 2024. Retrieved 11 February 2025.
  34. 1 2 CEZ Group 2025 Annual Financial Report (PDF) (Report). ČEZ. 2026. p. 79.
  35. ↑ CEZ Group Annual Report 2011 (PDF) (Report). ČEZ. 2012.
  36. 1 2 Further Reputational Damage to ČEZ As EC Launches Third Inquiry Into Czech Electricity Market. The Global Insight. 23 September 2010
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