CEZ AS (BAACEZ.PR), a Czech-based power company with operations across central and eastern Europe, aims to aggressively expand into natural gas fueled electricity production, the company's spokeswoman said Thursday.
Eva Novakova said that the company is likely to build a gas-fired power plant in Pocerady, 40 kilometers northwest of Prague, rather than build a new lignite-power electricity plant due to problems securing long-term coal supplies.
"However we don't yet have a timeline for building the plant," Novakova said.
The power company is also actively planning to build gas-fired power plants in Slovakia, Hungary and Russia.
Historically, CEZ has produced power almost exclusively from coal and nuclear sources, with a minor contribution from domestic hydroelectric plants.