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Cez as Submits Changes in Settlement with European Commission
Cez as announced that its Management and Supervisory Boards have submitted changes in the settlement signed with European Commission, which is a step towards the completion of the proceedings against the Company initiated in 2009 year. In June 2012, Cez as offered European Commission to end proceedings by sale of one of its power plant: Pocerady, Chvaletice, Detmarovice or Tisova and Melnik 3. In both cases, Cez as does not plan any modernization but gradual decrease of production depending on the technical condition of the devices. The revised settlement does not include a power plant in Detmarovice. The settlement will enter into force after receiving an approval from the European Commission.
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