Czech Republic: CEZ Losing With RWE Contract?

EnergyUtilities ♦ Published: May 12, 2014; 23:08 ♦ (Vindobona)

A gas contract with German RWE is causing the Czech energy group losses in the billions.

CEZ will have to lead negotiations with German energy group RWE. / Picture: © CEZ

As reported by Czech daily Lidove noviny, energy group CEZ is facing losses running into billions by a contract signed with German RWE Group. The Czech energy company signed a 15-year deal with RWE on the supply of fuel for planned power plant in Pocerady. Still, CEZ is not expecting the power plant to be operating for the time being which is why it has to lead negotiations with RWE and…