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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.

Key Information

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.[2][3] According to the Economist, "though nominally state-run, many see the power flowing the other way: from CEZ's board into politics".[4] Capital Group Companies invested 2.98% into ČEZ Group. Since 2011, when Daniel Beneš became the CEO these calls have faded out.[5]

As of late 2010, the EU was investigating the company's activities.[4] 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.[6]

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.[7]

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.[8] 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.[9]

In 2015, ČEZ scored first in Deloitte CEE Top 500 according to market cap and fourth in overall ranking [10] and was elected overall winner of the 2015 Euromoney Best Managed Companies Survey for Central and Eastern Europe.[11]

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.[12] On October 29 a report came out stating that the company has signed an agreement with Rolls-Royce SMR to develop small modular reactors.[13]

Power stations

[edit]

ČEZ Group is an operator of various energy sources. Most important energy sources are listed[14] (in the Czech Republic, if not indicated):

In 2015 CEZ operated 2,3 GW of hydro power plants in Europe and Asia, including the biggest pump storages.

Carbon intensity

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ČEZ Group has invested more than CZK 200bn in development and in environmental measures during its modern history to increase efficiency and reduce emission of its power plants. Today, the ČEZ brand represents energy producers or suppliers in a total of 7 countries.

Year Production (TWh) Emission (Gt CO2) kg CO2/MWh
2002 54 34.7 643
2003 61 34 557
2004 62 35.71 575
2005 60 33.3 555
2006 66 36.26 553
2007 73 46.85 640
2008 68 40.38 597
2009 65 37.2 569
2010 68 38.8 568
2011 69 38.7 560
2012 69 35.0 509
2013 67 32.0 480
2014 63 28.1 446

Source: Annual Reports[16]

See also: List of European power companies by carbon intensity

Electricity capacity and production

[edit]
Installed Capacity (MW)
2008 2009 2010 2011 2012 2013 2014
14,288 14,395 15,018 15,122 15,779 15,199 16,038

Source:Helgi Library;[17] Presentation for investors - August 2015 [18]

Electricity Production (GWh)
2008 2009 2010 2011 2012 2013 2014
67,595 65,344 68,433 69,209 68,832 66,709 63,124

Source:Helgi Library;[17] Presentation for investors - August 2015 [18]

Shareholders and stock listing

[edit]

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).[19] In 2007 the Czech government decided to gradually sell another 7% stake of ČEZ on the stock market,[20] 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.[21]

As of December 31, 2011, the Czech Republic represented by Ministry of Finance remained the company's largest shareholder with 69.78% stake in the stated capital.[22] Other shareholders included:

The company is traded on the Prague, Warsaw, Frankfurt and RM-SYSTÉM Czech stock exchanges.[22] and since 2001 company is paying annual dividends.

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.[23]

Electric vehicles

[edit]

The building of a network of public charging stations for electric vehicles got fully underway in 2011. The first public charging station – in front of ČEZ's headquarters in Prague's Duhová Street – opened on November 30, 2011. As of December 2011, seven CEZ Group public charging stations were in operation, in Prague and Chrášťany, Prague-West district.[22] ČEZ's given charities electric cars to use and test. Between 50 and 100 electric cars being made available over the coming years. The first two vehicles – a Fiat Fiorino Combi and a Fiat Fiorino Cargo – went to a senior citizen health care charity based in Prague.[24]

Influence on politics

[edit]

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.[2][3] According to the Economist, "though nominally state-run, many see the power flowing the other way: from ČEZ's board into politics".[4]

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.[3]

In 2010, a Czech court ruled that, as a state-owned company, ČEZ must disclose political activities.[2]

Leaked pictures show politicians across political spectrum, including former Prime Minister Mirek Topolánek, holidaying with ČEZ lobbyists in Italy.[4][25]

As of late 2010 the European Union was investigating ČEZ. The company's offices were raided in November 2010.[4][25]

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.[2] CEEI's directors include Václav Klaus's former chief of staff (Jiří Kovář) and a man who is jail for kidnapping.[2]

In 2015, ČEZ scored first in Deloitte CEE Top 500 according to market cap and forth in overall ranking.[10]

See also

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References

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[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

ČEZ Group

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from Grokipedia

ČEZ Group is a multinational conglomerate headquartered in , , and the country's dominant integrated utility, focused on the generation, distribution, trading, and retail supply of and through a mix of nuclear, hydroelectric, and emerging renewable sources. Founded on 6 May 1992 amid the privatization of Czechoslovakia's state-owned sector following the nation's dissolution, ČEZ has evolved into a major player in with operations spanning multiple countries. The Czech government maintains majority ownership with nearly 70% of shares as of December 2024, ensuring strategic alignment with national priorities. Employing over 33,000 personnel, ČEZ Group delivers reliable energy to 3.5 million customers while managing key assets including six nuclear reactors at the Dukovany and Temelín , which account for approximately 36% of Czech production. The company has pursued in emission-free generation and infrastructure modernization, exemplified by investments in grid upgrades and new nuclear capacity to enhance energy security. Strategically, ČEZ targets by 2030 and climate neutrality by 2040, balancing expansion in renewables and storage with sustained reliance on for baseload stability.

History

Founding and Nationalization

The electricity generation and distribution sectors in post-World War II were nationalized in 1945 with the establishment of Československé energetické závody (Czechoslovak Energy Enterprises), consolidating previously private and regional utilities under state control as part of the communist government's centralization efforts. This encompassed major power plants, transmission networks, and distribution systems across the , aligning with broader Soviet-influenced policies that eliminated private ownership in key industries. In 1969, amid administrative reforms within the , the unified entity was restructured into separate Czech and Slovak operations: České energetické závody for the Czech territories and Slovenský energetický podnik for , maintaining full while delineating regional responsibilities for production, transmission, and supply. These entities operated as vertically integrated monopolies under the Ministry of Fuel and Energy, with generation dominated by coal-fired plants and early hydroelectric facilities, reflecting the era's emphasis on and self-sufficiency. Following the Velvet Revolution of and the subsequent transition to a , the Czech sector underwent to prepare for and separation from Slovak counterparts ahead of Czechoslovakia's dissolution in 1993. On May 6, 1992, ČEZ, a.s. was founded as a by the National Property Fund of the —the state agency managing former communist assets—as its sole initial shareholder, effectively transforming the state-owned České energetické závody into a corporate entity while retaining majority public ownership. This establishment centralized control over generation, transmission, and distribution in the , with ČEZ inheriting approximately 10 gigawatts of installed capacity primarily from thermal and hydro sources, positioning it as the dominant national utility. The state's 100% initial stake ensured continued public oversight, though partial via voucher schemes began shortly thereafter, reducing direct ownership to around 70% by the late 1990s.

Expansion in the 1990s and 2000s

Following the partial privatization through the first wave of , in which 27% of ČEZ shares were sold, the company focused on domestic consolidation amid the post-communist transition. In October 2000, the Czech government resolved to offer additional shares of ČEZ and six regional distributors for public sale, aiming to reduce , though subsequent political shifts limited foreign involvement and preserved majority state control. ČEZ shares began trading on the Prague Stock Exchange in this period, enabling broader investor access while the company invested in modernizing generation assets, including the completion of Temelín Nuclear Power Station's Unit 1 in 2000 and Unit 2 in 2003, financed partly by a World Bank loan and boosting installed nuclear capacity to approximately 2,000 MW. A pivotal domestic expansion occurred on April 1, 2003, when ČEZ acquired majority stakes in five regional distribution companies—Severočeská, Východočeská, Západočeská, Jihomoravská, and Středočeská—as part of sector unbundling required for accession, increasing its control over distribution networks serving millions of customers and integrating them into the ČEZ Group structure. This move enhanced and revenue streams, with stakes rising to 97.7–99.1% through subsequent share buybacks. Internationally, ČEZ pursued aggressive growth in Central and Southeastern Europe, leveraging opportunities in accession countries; by 2004, under CEO Martin Roman, it outlined a three-year plan targeting distributors and generation assets in markets like , , , and to diversify beyond saturated Czech operations. Key international acquisitions materialized in 2005, when ČEZ won tenders for three Bulgarian regional electricity distributors serving 1.9 million customers, establishing CEZ Bulgaria, and a 51% stake in Romania's largest distributor, Electrica Muntenia Nord, covering 1.4 million customers, as part of broader privatization drives. In Poland, ČEZ secured generation assets totaling around 810 MW, including stakes in coal-fired plants like Połańce, enhancing its portfolio with thermal capacity amid regional energy liberalization. These moves, funded by strong domestic cash flows, positioned ČEZ as a regional leader, with foreign operations contributing to group growth despite regulatory hurdles and currency risks in emerging markets. By the late 2000s, the group had transformed from a primarily domestic utility into an integrated multinational entity, though later divestitures in some markets reflected shifting strategic priorities.

Recent Developments (2010s–Present)

In the , ČEZ Group maintained strong financial performance amid investments in asset modernization, including upgrades to nuclear facilities at Dukovany and Temelín, which supported nuclear output exceeding 30 TWh annually by 2019. The company also pursued efficiency improvements in -fired plants, investing billions of in desulfurization and to comply with emissions standards, while beginning to diversify into renewables and energy services abroad. However, as decarbonization pressures mounted, ČEZ initiated planning for capacity reductions, aligning with national strategies to transition away from dependency. Entering the 2020s, ČEZ accelerated its coal phase-out, announcing in May 2021 plans to reduce coal's share of electricity generation from 39% to 12.5% by 2030 and targeting a full exit by 2033, potentially earlier. This included shutting down 600 MW of coal capacity at the Detmarovice plant in 2021 and divesting foreign coal assets, such as the sale of 568 MW Polish coal-fired facilities to ResInvest Group in February 2025 for strategic refocus on low-carbon sources. Concurrently, the group committed up to CZK 40 billion to renewables expansion under favorable regulations, emphasizing wind, solar, and distributed generation to reach 6 GW capacity in its 2030 vision. Nuclear development advanced significantly, with ČEZ securing a zoning decision for two new units at Dukovany in October 2023 and selecting (KHNP) as vendor in July following a competitive tender. Contracts were signed in June 2025 after legal challenges from competitors were resolved, paving the way for construction start later in the decade and first operations around 2036. Plans also include small modular reactors (SMRs) with over 1 GW capacity and lifetime extensions for existing plants to bolster zero-emission baseload power. These initiatives, funded partly by divestment proceeds and robust EBITDA—such as CZK 3.9 billion from the 2024 Gasnet acquisition—underscore ČEZ's pivot to a decarbonized portfolio amid sustained profitability.

Corporate Governance and Ownership

Major Shareholders

The Czech government, represented by the , is the dominant shareholder in ČEZ Group, holding 69.78% of the stated capital (equivalent to 69.93% of voting rights) as of December 31, 2024. This stake underscores the company's role as a key national utility, with the state's influence extending to strategic decisions in and . Among non-state shareholders, private vehicles predominate among identifiable major holders. Belviport Trading Limited, associated with Czech investor Pavel Tykac, controls 2.86% of the stated capital (2.87% voting rights), while Abaretia Holdings Limited holds 1.41%. Other notable entities include Banking S.A. at 1.39%, PPF banka a.s. at 1.37%, and Chase Nominees Limited at 1.37%, reflecting a mix of custodial, banking, and interests. The remaining shares are dispersed among institutional investors (collectively around 5-6% in aggregated holdings), private individuals (13.03%), and treasury shares (0.22%).
ShareholderStake in Stated Capital (%)Voting Rights (%)As of Date
(Ministry of Finance)69.7869.93December 31, 2024
Belviport Trading Limited2.862.87December 31, 2024
Abaretia Holdings Limited1.411.41December 31, 2024
Banking S.A.1.391.40December 31, 2024
PPF banka a.s.1.371.37December 31, 2024
ČEZ Group's shares, all with equal rights, are publicly traded on the and Stock Exchanges, ensuring for minority holders while the state's maintains oversight on dividends and long-term investments. Institutional ownership by geography, excluding the state, shows concentration in (53.1%) and the / (13.5%) as of March 2025, indicating broad international investor participation.

Stock Listing and Financial Performance

ČEZ, a. s. shares are listed on the Prime Market segment of the under the CEZ, with CZ0005112300. The stock forms part of the PX 50 index, comprising the exchange's largest and most traded securities. Shares are also available via global depositary receipts on select international markets, though the primary trading venue remains . As of October 24, 2025, the company's reached CZK 696 billion, reflecting a year-to-date performance increase of over 35%. In 2024, ČEZ Group recorded earnings before interest, taxes, depreciation, and amortization (EBITDA) of CZK 137.5 billion and net profit of CZK 30.5 billion, the latter marking a 3% rise from 2023 levels amid stable and trading operations. Operating revenues for the year supported these figures, driven by domestic sales and international segment contributions. For the first half of 2025, net profit stood at CZK 16.5 billion, with the group raising its full-year outlook to EBITDA of CZK 132–137 billion and adjusted net profit of CZK 26–30 billion, factoring in higher nuclear output and renewable investments. ČEZ Group adheres to a emphasizing high payouts, typically around 80% of net profits, to reflect its utility-like stability. The annual general meeting on June 23, 2025, approved a of CZK 52 per share (before ) for the 2024 , payable from August 1, 2025, yielding approximately 3.6% based on prevailing share prices. This follows prior distributions, including proposals aligning with a CZK 35–47 per share range under updated policy guidelines.
Key Financial Metrics2024 (CZK billion)H1 2025 (CZK billion)
EBITDA137.5Not specified (full-year outlook 132–137)
Net Profit30.516.5
52 (approved 2025)N/A

Energy Production

Nuclear Power Operations

ČEZ Group operates two nuclear power plants in the , Dukovany and Temelín, which together account for the majority of the country's baseload . These facilities utilize Russian-designed pressurized water reactors and produced approximately 30 TWh of electricity annually as of recent operations, representing about 40% of Czech electricity output in 2023. The Dukovany Nuclear Power Plant, located in the , features four VVER-440/V-213 units, each with a nominal capacity of 510 MWe, for a total installed capacity of 2,040 MWe. Construction began in 1980, with units entering commercial operation between 1985 and 1987; the plant supplies around 14 TWh per year to the grid. ČEZ has implemented power uprates at Dukovany, achieving 1,475 MWt thermal output in Unit 3 as of August 2024, with plans for further modernization of turbine halls to potentially increase electrical output. The plant's original license extends to 2037, with evaluations underway for long-term operation potentially to 2047 or beyond. Temelín Nuclear Power Plant, situated in South Bohemia near České Budějovice, comprises two VVER-1000/V-320 units, each rated at approximately 1,000 MWe, yielding a combined capacity of about 2,000 MWe. Units 1 and 2 entered service in 2002 and 2003, respectively, following delays from original 1980s construction starts. ČEZ is preparing Temelín for long-term operation beyond its initial 40-year design life, targeting at least 60 additional years of service through modernization efforts similar to those at Dukovany. Recent developments include ČEZ's pursuit of new nuclear capacity, with final bids received in 2024 for up to two new reactors at Dukovany from vendors including , selected for APR1000 units in a CZK 407 billion (USD 18.6 billion) contract signed in June 2025. The Czech committed to a majority stake in this project on April 30, 2025, emphasizing and low-carbon generation. Additionally, ČEZ signed an early works agreement with in July 2025 to explore a 470 MWe deployment at Temelín, alongside ongoing site surveys. For 2025, ČEZ anticipates generating nearly 32 TWh from its nuclear fleet, reflecting improved availability and uprates. These initiatives align with national policy to expand nuclear output to over 32 TWh annually while extending existing plant lifespans.

Thermal Power Plants

ČEZ Group's thermal power plants encompass coal-fired units fueled by and hard , as well as combined cycle gas turbine (CCGT) facilities, contributing significantly to its baseload generation capacity. As of 2023, coal-fired plants total 4,322 MW of installed capacity, primarily located in northern and northwestern , , with operations focused on from nearby mines and some co-firing with . These plants have undergone extensive modernization, including retrofits and the addition of efficient blocks, such as the 660 MW unit at Ledvice achieving 42.5% efficiency, to extend operational life amid declining viability. Key coal-fired facilities include Tušimice, Prunéřov, and Ledvice power stations, which supply electricity and heat through combined heat and power configurations, alongside the hard Dětmarovice Power Station (800 MW) in the . In , Prunéřov I, an older unit, was decommissioned after producing over 41 million GJ of since commissioning, marking progress toward emission reductions; the site is eyed for future low-carbon uses like . ČEZ evaluates annual closures based on economic factors, with no shutdowns planned for but a potential full by 2028, accelerated by low commodity prices rendering uncompetitive against gas, nuclear, and renewables. CCGT plants provide flexible peaking and intermediate load support, with Počerady CCGT (838 MW) in the operational since 2014 at 58.3% efficiency, and Egemer CCGT (872 MW) in , commissioned via a , achieving over 57% efficiency. Early 2025 plans at Pořící Power Station involve replacing remaining capacity with and gas units to align with decarbonization while maintaining supply. Overall, thermal assets face pressure from EU carbon pricing and national targets, prompting shifts toward higher-efficiency gas and eventual exit by 2030–2040.
PlantLocationFuelCapacity (MW)Notes
Dětmarovice, 800Operating; four 200 MW units.
Počerady CCGT, 838High-efficiency CCGT; first in Czech Republic.
Egemer CCGT872 operation; >57% efficiency.
Ledvice (select block)Northwest , 660Modernized high-efficiency unit.

Renewable Energy Portfolio

ČEZ Group's renewable energy portfolio primarily consists of hydroelectric, , and solar assets, with hydroelectric power forming the largest component. The company operates 33 hydroelectric power plants and three pumped-storage facilities in the , boasting a total installed capacity of 1,978 MW. Including operations in , the group manages approximately 40 plants with a combined capacity of 2,267 MW, of which 97% are large-scale facilities. In 2024, these hydroelectric assets generated 2.5 TWh of , sufficient to meet the annual consumption of about 720,000 Czech households. Wind power contributions remain modest but established within the portfolio. Since 2009, ČEZ has operated two onshore wind farms in the : one near Věžnice in the and another near Janov in the Pardubice Region. Internationally, the group expanded its wind capacity in November 2024 with the commissioning of the 11.1 MW La Piballe project in western . ČEZ has outlined intentions to expand its wind generation further as part of broader renewable growth strategies, though specific near-term targets beyond pipeline development are limited in public disclosures. Solar photovoltaic installations represent a rapidly growing segment, supported by recent investments and development pipelines. As of 2025, ČEZ operates 25 solar power across the , , , and , with a total installed capacity of 191 MW. The company has commissioned nine new photovoltaic totaling 52 MWp since initiating its solar expansion program, with an additional 14 projects in development. Further, 10 solar with 111 MWp capacity were under construction or nearing completion in 2025, contributing to an operational portfolio exceeding 178 MWp. ČEZ maintains a development of over 5 GW in photovoltaic projects at various stages, including plans for its largest solar facilities on reclaimed sites of former coal-fired power stations in northern . To optimize operations, ČEZ opened a centralized control center in Málkov near Chomutov in May 2025 for managing its renewable sources, enhancing efficiency across wind and solar assets. The group has committed to constructing 6 GW of additional renewable capacity by 2030, prioritizing solar and wind to diversify beyond hydro dominance and align with decarbonization objectives. This expansion contrasts with historical underinvestment in renewables relative to thermal assets, as only 4% of recent growth capital expenditures were allocated to new renewable builds prior to accelerated solar initiatives.

Installed Capacity and Output

As of December 31, 2024, ČEZ Group's total installed electricity generation capacity was 12,067 MW, comprising 6,728 MW (55.8%) from emission-free sources and 5,338 MW (44.2%) from emission-generating sources. This represented a slight increase from 11,943 MW at the end of 2023, driven by additions in (up 40 MW), (up 29 MW), and nuclear capacity at Dukovany (up 48 MW to 2,048 MW total for the site). Nuclear capacity totaled 4,318 MW, primarily from Dukovany (2,048 MW) and Temelín (2,270 MW) in Czechia. -fired capacity remained at 4,317 MW, concentrated in Czechia and , though Poland's assets were divested effective February 2025, reducing that segment to zero MW there. Other sources included gas at 1,011 MW, hydro at 1,981 MW, at 231 MW, at 198 MW, and at 11 MW.
SourceInstalled Capacity (MW, end-2024)Share (%)
Nuclear4,31835.8
4,31735.8
Gas1,0118.4
Hydro1,98116.4
2311.9
1981.6
110.1
Total12,067100
In 2024, ČEZ Group generated a gross total of 50,618 GWh (50.6 TWh) of , down 1.6% from 51,451 GWh in 2023, primarily due to reduced nuclear output from planned outages at Temelín. Emission-free sources accounted for 64.7% of output (32,734 GWh), up slightly from 2023, reflecting a strategic shift amid efforts that have reduced capacity by 2,446 MW since 2019. Nuclear generation comprised 29,695 GWh (58.7% of total), with Dukovany contributing higher volumes year-over-year despite overall declines. output was 15,197 GWh (30.0%), gas 2,047 GWh (4.0%), hydro 2,486 GWh (4.9%), 195 GWh (0.4%), 357 GWh (0.7%), and 641 GWh (1.3%).
SourceGeneration (GWh, 2024)Share (%)
Nuclear29,69558.7
15,19730.0
Gas2,0474.0
Hydro2,4864.9
1950.4
3570.7
6411.3
Total50,618100
By mid-2025, installed capacity had declined to 11,540 MW, reflecting divestitures including Poland's assets, while first-half generation rose 5.9% year-over-year to 25.7 TWh, supported by nuclear output of approximately 15.4 TWh (60% share). Renewables contributed 5% of H1 2025 output, with ongoing expansions in and wind across Czechia, , and .

Environmental Impact and Sustainability

Carbon Emissions Profile

ČEZ Group's carbon emissions profile is dominated by Scope 1 direct emissions from combustion, primarily -fired power plants, which accounted for approximately 98% of its Scope 1 emissions in 2023. In 2023, total Scope 1 emissions reached 15.95 million tonnes of CO₂ equivalent (tCO₂e), a 12% reduction from 18.16 million tCO₂e in 2022, driven by decreased usage and the decommissioning of units like Prunérov I. combustion contributed 15.65 million tCO₂e, with minor additions from (1.03 million tCO₂e), N₂O (0.16 million tCO₂e), and CH₄ (0.01 million tCO₂e). Scope 2 emissions were negligible at 0 tCO₂e in 2023, following asset divestitures, while Scope 3 emissions totaled 13.53 million tCO₂e, largely from the use of sold products (9.34 million tCO₂e under category 11).
YearScope 1 (million tCO₂e)Scope 2 (million tCO₂e)Scope 3 (million tCO₂e) (tCO₂e/MWh, Scope 1+2)
2019N/AN/AN/A0.38
202119.990.1410.520.29
202218.16012.260.29
202315.95013.530.27
202415.480.000028 (market-based)11.820.27
Data compiled from verified self-reports; intensity calculated relative to and . , measured as tCO₂e per MWh of and generated, fell to 0.27 tCO₂e/MWh in both 2023 and 2024, reflecting a 29% decline from the 2019 baseline of 0.38 tCO₂e/MWh, amid a shift where emission-free sources (nuclear and renewables) comprised 64.7% of by 2024. 's share in the dropped to 30% in 2023, with total coal usage at 11.34 million tonnes, down from 12.43 million tonnes in 2021. These emissions are verified under EU ETS for 16 facilities and align with GHG Protocol standards, though Scope 3 calculations rely on estimates for downstream impacts. In parallel, the group avoided 28.37 million tCO₂e in 2023 through nuclear (25.38 million tCO₂e) and renewable sources, offsetting much of its footprint on a lifecycle basis. The profile underscores reliance on lignite and hard assets, with ongoing phase-out plans targeting full coal exit by 2033 for and 2030 for heating, supported by emission rights trading (14.17 million tonnes held for own use in 2024). Natural gas projects are capped at under 270 g CO₂e/kWh intensity, aiming for 55% reductions versus displaced . Total Scope 1+2+3 emissions stood at 27.3 million tCO₂e in 2024, with Scope 1 comprising 56.7% of the footprint.

Decarbonization Commitments and Strategies

ČEZ Group has committed to achieving carbon neutrality by 2040, a target validated by the (SBTi) as aligned with a 1.5°C pathway. This includes reducing Scope 1 and 2 by 97.3% per MWh by 2040, measured against a 2019 baseline. The company's VIZE 2030 strategy emphasizes transforming its generation portfolio toward low-emission sources, with as a through efficient management of existing plants and preparations for new capacity. forms a key element, targeting complete elimination of -fired generation by 2038, ahead of broader Czech national timelines. This builds on an earlier pledge to halve capacity from 2016 levels by 2025. Renewable energy expansion supports these goals, with plans to deploy 6,000 MW of new capacity by 2030, prioritizing solar photovoltaic installations domestically. Shorter-term targets include adding 1,500 MW of by 2025. serves as a transitional fuel to bridge the shift from , while the strategy anticipates increased reliance on nuclear and renewables for baseload and variable generation.

Diversified Operations

Electricity Distribution and Gas Acquisition

ČEZ Distribuce, a subsidiary of ČEZ Group, operates the largest distribution network in the , covering a service area of 52,268 km² and serving 3,698,220 connection points. The network includes 259,966 km of installed lines, supporting a peak load of 6,002 MW, and distributed 40,644 GWh of in 2023. Investments in grid modernization, including smart meters and fiber optics, aim to enhance reliability and integrate renewables, with planned expenditures exceeding CZK 83 billion by 2025. In gas operations, ČEZ Group has expanded through strategic acquisitions to build a nationwide distribution presence, excluding . In August 2024, it acquired a 55.21% stake in GasNet, the Czech Republic's leading gas operator, which manages 65,000 km of pipelines, serves 2.2 million customer points, and distributes approximately 60 TWh of annually. In February 2025, ČEZ secured full ownership of GasNet by acquiring E.ON's remaining Czech gas assets, followed by the 2025 purchase of Gas Distribution s.r.o., adding 4,600 km of pipelines in southern and parts of the . These moves support gas trading and sales, with 72% of GasNet's network length compatible for future transport to aid decarbonization.

Electromobility Initiatives

The ČEZ Group has engaged in electromobility since 2009, with its core focus on constructing and operating public charging stations for , establishing the largest such network in the . The company adds more than two charging stations per week and provides turnkey solutions, including design, installation, and IT management for retail, corporate, municipal, and fleet clients. It also offers services such as rentals, fleet support, and for electric buses, ensuring all charging uses emission-free generated from renewable sources. By the end of 2021, following the construction of a record 110 new stations that year, the network comprised 391 stations—each typically equipped with two charging points—for a total of 782 points and over 25 MW of installed capacity. Usage grew substantially, with green consumption rising 44% to 3.53 million kWh and charging sessions increasing 24.5% to 203,703, reflecting higher average draw per session of 15.2 kWh. More recently, as of August 2024, ČEZ had built nearly 100 additional sites that year, expanding the network while targeting further growth of over 100 stations by year-end. ČEZ has pursued innovative deployments to address grid limitations and enhance charging speeds, including the Czech Republic's first public ultra-fast station with integrated battery storage in 2025—the Kreisel Electric Chimero 180 model, delivering up to 180 kW. This initiative, now operational at three locations (Vestec, Duhová 3, and ), supports high-power charging in constrained areas. The company has also installed standout high-capacity units, such as a 360 kW station in Prague's Olympia parking area capable of charging two vehicles simultaneously. Partnerships bolster operations: Driivz provides the backend charging management system for reliability and scalability, while Hubject enables eRoaming across . Looking ahead, ČEZ plans to add at least 180 new stations by the end of 2025, prioritizing ultra-fast chargers with outputs of 150 kW or higher along key corridors like TEN-T roads (supported by European CEF grants), while boosting overall network capacity from 70 MW to 100 MW. Complementary efforts include pilot programs, such as lending electric test vehicles to partners, to promote adoption.

Strategic Outlook and Policy Engagement

Nuclear Expansion Plans

ČEZ Group, through its subsidiary Elektrárna Dukovany II (EDU II), which it co-owns with the Czech state, selected South Korea's (KHNP) as the preferred bidder for constructing two new units at the Dukovany site in 2024, following a tender process launched in March 2022. The project, valued at approximately $18 billion, aims to add around 2.4 GW of capacity to replace aging units and support the country's and decarbonization goals, with construction expected to begin after final approvals and operations targeted for the early . Final contracts were signed on June 4, 2025, after the Czech lifted an stemming from a legal challenge by French competitor EDF, which had delayed proceedings earlier in the year. The Czech government announced in April 2025 its intention to hold a majority stake in the project to ensure national control over this . In parallel, ČEZ is advancing plans for small modular reactors (SMRs) at the Temelín site, partnering with Rolls-Royce SMR to deploy the first such unit in the Czech Republic by the mid-2030s, with potential for up to 3 GW total capacity to address repowering needs projected as early as 2030. An early works agreement signed on July 17, 2025, initiates site-specific preparations near the existing Temelín plant, building on a strategic cooperation memorandum from September 2024 and a government security agreement from August 2024 that provides regulatory and financial safeguards. These SMR initiatives align with the Czech National Action Plan for Nuclear Energy Development, emphasizing modular technology for faster deployment and lower upfront risks compared to large-scale builds. These expansions complement ongoing modernizations at existing facilities, such as power uprates at Dukovany achieving 1,475 MWt per unit by April 2024 and generator replacements at Temelín scheduled for 2029-2030, but represent ČEZ's core strategy for nuclear growth amid the phase-out of and rising demand for baseload low-carbon power. The Dukovany project has sought approval for state aid, including power purchase agreements, to mitigate financial risks, reflecting broader scrutiny of subsidized nuclear investments.

Government Relations and Energy Policy Influence

The holds a 69.8% stake in ČEZ Group as of December 31, 2024, primarily through the , establishing direct state control over strategic decisions and aligning the company's operations with national priorities in and supply reliability. This ownership structure enables seamless coordination on policy execution, such as the government's designation of ČEZ in as the lead investor for new nuclear units at Dukovany (priority site) and Temelín, aimed at replacing aging coal capacity and fulfilling climate commitments under the State Energy Policy. ČEZ's influence extends to shaping energy transition frameworks, including advocacy for a strengthened EU Emissions Trading System (ETS) to incentivize low-carbon investments, as evidenced by its lobbying efforts documented in policy analyses. The company has entered security agreements with the government, such as the August 2024 pact facilitating small modular reactor (SMR) development near Temelín, which supports exploratory tenders for technologies like those from Rolls-Royce while mitigating financial risks through state-backed frameworks. These collaborations reflect ČEZ's role in informing policy on nuclear expansion, targeting a 68% nuclear share in electricity generation by 2040 to enable coal phase-out by 2033. On fossil fuels, ČEZ endorses the national coal exit timeline of 2038, integrating it into its VISION 2030 strategy for emissions reduction—halving production emissions by 2030—while cautioning against premature closures that could undermine grid stability, as articulated in sustainability disclosures. Government actions, including 2023 legislative proposals to lower shareholder thresholds for ČEZ and support for EU-approved state aid for new nuclear builds (up to €18 billion for Dukovany), demonstrate reciprocal influence where ČEZ's operational insights guide fiscal and regulatory measures for . ČEZ also contributes to diversification efforts, such as the October 2024 gas supply contract from executed independently but enhancing without direct state funding, positioning the company as a pragmatic of amid EU Green Deal pressures. This dynamic underscores ČEZ's dual role: as a state-directed entity advancing agendas and as a technical authority influencing feasible pathways for decarbonization over ideologically driven timelines.

Controversies and Criticisms

Environmental and Coal Phase-Out Debates

ČEZ Group, as the dominant electricity producer in the Czech Republic, has historically relied on -fired power plants for a significant portion of its generation capacity, contributing to substantial emissions and local . In 2019, accounted for approximately 40% of ČEZ's production, with lignite-fired units emitting around 20 million tonnes of CO₂ equivalent annually across its portfolio. The company's operations, including plants like Počerady and Dětmarovice, have faced criticism for , water contamination from ash ponds, and habitat disruption near sites, prompting protests from local communities and environmental organizations. ČEZ has committed to a gradual , announcing in 2021 the shutdown of 600 MW of lignite-fired units at Dětmarovice by the end of that year, and targeting a reduction in 's share of total generation to 25% by 2025. Official plans outline full cessation of -fired production by 2038, aligned with , though internal estimates have varied, with some projections suggesting an earlier end around 2028 contingent on market conditions and annual reviews. To support this, ČEZ pledged reductions exceeding 50% by 2030 relative to 2019 levels, alongside investments in renewables and no new capacity. These steps respond to EU decarbonization pressures and domestic mandating exit by 2033 for most units. Debates center on the pace and sincerity of the transition, with environmental advocates, including Greenpeace and the Beyond Fossil Fuels coalition, arguing that ČEZ's timelines remain too protracted, potentially extending operations into the 2040s for heating applications and undermining Paris Agreement goals. Critics highlight the 2019 divestiture of the Počerady power plant to Slovak investor J&T, which they view as ČEZ evading responsibility for emissions while securing short-term profits, a move opposed by politicians, NGOs, and minority shareholders concerned about stranded assets and ongoing pollution. In contrast, ČEZ and government officials emphasize the need for measured closure to maintain grid reliability, avert energy shortages, and manage socioeconomic impacts on coal-dependent regions like Ústí nad Labem, where abrupt shutdowns could exacerbate unemployment without viable alternatives. Independent analyses, such as from the Institute for Energy Economics and Financial Analysis, note ČEZ's lag in renewables deployment—achieving only modest solar and wind additions despite 2030 targets of 6 GW—questioning execution amid persistent coal reliance for baseload power. Cross-border lignite mining disputes, such as those involving adjacent Polish operations affecting Czech water resources, have indirectly intensified scrutiny on ČEZ's , though the company maintains separation from extraction via long-term contracts. These tensions underscore broader causal trade-offs: while promises emission cuts and ecosystem recovery, rapid implementation risks energy insecurity in a nuclear-heavy but import-dependent grid, as evidenced by ČEZ's for extended plant lifespans during high-demand periods.

Political and Economic Influence Concerns

The Czech government holds approximately 70% ownership in ČEZ Group, granting it significant control over strategic decisions and enabling direct influence on national energy policy. This state dominance has raised concerns among minority shareholders and investors regarding potential prioritization of political objectives over commercial interests, as evidenced by legislative proposals in 2023 to lower the shareholder majority threshold required for company restructurings, which analysts argued weakened protections for non-state investors. In May 2025, the leading political party ahead of elections pledged a full state buyout of remaining shares to enhance energy security, a move critics viewed as further entrenching government sway amid debates over whether such nationalization aligns with economic efficiency. ČEZ Group's commanding position in the Czech , accounting for over 84% of its net sales domestically, has prompted antitrust scrutiny for potential abuse of dominance. The Czech in a prior ruling upheld findings that ČEZ abused its dominant market position in utilizing brown for production, imposing liability for practices that disadvantaged competitors. More recently, in November 2024, the Czech anti-monopoly office initiated an investigation into possible anti-competitive among ČEZ, EPH, and in production, highlighting ongoing worries about coordinated strategies stifling market competition. Internationally, subsidiaries faced fines, such as in in 2017 for implementing discriminatory practices against smaller rivals, underscoring patterns of leveraging scale to influence regional energy dynamics. Critics, including environmental analysts, have accused ČEZ of exerting undue influence to temper aggressive decarbonization policies, such as securing extensions to environmental limits for operations in 2015 to prolong lifespans beyond initial phase-out targets. This aligns with broader observations that major utilities like ČEZ collaborate with the Ministry of Industry and Trade to shape energy strategies favoring gradual transitions, potentially delaying investments in renewables in favor of nuclear and legacy assets. Such engagements, while registered under transparency rules, have fueled debates over whether ČEZ's policy advocacy—aimed at targets like neutrality by 2040—reflects genuine strategy or entrenched interests resisting faster market shifts driven by competition.

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  128. https://www.concurrences.com/en/bulletin/special-issues/energy-dominance/abus/the-czech-high-court-upholds-that-the-largest-national-producer-of-electricity
  129. https://uk.finance.yahoo.com/news/czech-anti-monopoly-watchdog-looking-145442647.html
  130. https://seenews.com/news/bulgarian-regulator-fines-cez-evn-units-for-abusing-dominant-position-1120142
  131. https://re-set.cz/download/Publikace/Betting-Against-Our-Future.pdf
  132. https://link.springer.com/article/10.1057/s41309-021-00138-9
  133. https://www.lobbyfacts.eu/datacard/%25C4%258Dez-as?rid=429600710582-32
  134. https://www.intellinews.com/comment-energy-lobby-dominates-czech-climate-change-debate-223022/
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