Czech utility CEZ takes Q2 hit from hedged electricity, emissions sales

Prague — Czech utility CEZ’s second quarter revenues and profit dropped sharply in spite of increased electricity production compared with the same period a year earlier as it was hit by increases in wholesale electricity and emissions prices after forward selling production at lower levels, it reported Tuesday.
Electricity production rose to 14.6 TWh compared with 14.4 TWh between April and June 2017.
Most of the increased production came from CEZ’s nuclear power plants, Temelin and Dukovany, with Q2 nuclear production rising to 7.8 TWh while coal-fired production dropped to 6.9 TWh.
Published in S&P Global, 7th August, 2018