 Energy
sector: looking for partners
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The energy sector is one of the most attractive
investment areas in any country of the world. The
energy sector in the Czech Republic consists of
CEZ, the dominant energy producer, and eight regional
distributors with each of them having a monopolistic
position in their regions (until deregulation, that
should happen in the beginning of 2006). While the
first try to privatize CEZ was not successful (Electricité
de France was one of the hottest participants but
failed to comply with the Czech government's requirements)
in 2002, CEZ underwent a major restructuring, buying
the state's stakes in the eight regional distributors.
A similar model was first used with the gas sector
where the state sold Transgas and the regional distributors
in a single package to German RWE.
While, according to the deal and rules set by the
Antimonopoly Office, CEZ will have to sell eventually
its minority stakes in the three regional distributors
and its majority stake in one of the five distributors
where it holds majority, it will still have a significant
stake in the Czech energy sector from production
to household delivery in over half of the country.
"The government will prepare new long-term
energy policy and then proceed with privatization
again," says Mr.
Jiri Rusnok, Ex-Minister of Industry and Trade
suggesting it will take some time before CEZ is
again put on the auction block.
Despite the planned takeover of the regional distributors
by CEZ, the companies must also prepare for the
starting liberalization of the energy market that
gradually, starting with the biggest customers,
allows to buy energy from any of the suppliers.
Besides improving their sales and marketing skills,
the regional distributors also support construction
projects, operate public lighting, provide energy
audits and some even branch out into other fields.
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"We are also focusing
on telecommunications and we have recently started
a new IT-related business," says Mr.
František Šucha, CEO of Zapadoceska Energetika
(ZCE),
the regional distributor of Western Bohemia that
profits from the relationship with the neighboring
Germany. ZCE is often considered as a pioneer among
the regional distributors, illustrated by the fact
that it is the first distributor offering green
energy in the Czech Republic.
However, the main challenge does not lie in deregulation
or diversification. "The most important change
is the way of thinking of our employees: we have
to change from a monopoly to a company that should
serve its clients and should take them as its most
fundamental asset," explains Mr.
Petr Zeman, Chairman of Board of Directors and General
Manager of Vychodoceska Energetika.
Mr. Šucha
also illustrates the important role French companies
play in the Czech energy industry. "We are
buying some of our equipment from Alstom and Schneider
Electric," he says. But the cooperation goes
much further as ZCE also acquired important know
how in the field of "live working on medium
voltage" from EDF. "It is an area where
EDF is the absolute number 1 and I find it a very
good and innovative company," Mr. Sucha adds.
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