CEZ AS (BAACEZ.PR), a Czech-based electricity company with operations throughout central and southeastern Europe, plans to become a strong competitor on Slovakia's power generation market, the company's head of electricity sales said Wednesday.
CEZ AS (BAACEZ.PR), a Czech-based electricity company with operations throughout central and southeastern Europe, plans to become a strong competitor on Slovakia's power generation market, the company's head of electricity sales said Wednesday.

"Now we have an embryonic presence in Slovakia with almost 50 commercial customers, which is a good starting point," Alan Svoboda said at a press conference.

The company is now ramping up activity to build its first two new electricity generation plants there.

Svoboda said that CEZ is now arranging building permits and preparing the sales strategy for an 800 megawatt natural-gas fired power plant that will be built near the Slovak capital, Bratislava.

This project is a joint-venture with Hungarian gas and oil company MOL Nyrt (MOL.BU).

Svoboda also said that he thinks it is likely that CEZ will build a separate power plant in eastern Slovakia on the grounds of the local unit of US Steel. For this plant, CEZ is now conducting a feasibility study that will determine how large the plant should be and what will be the fuel.

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