CEZ pays total of CZK8.2bn for Gas Distribution

Prague, May 14 (CTK) - Semi-state energy group CEZ paid a total of CZK8.2bn for Gas Distribution, the operator of the gas distribution network in southern Bohemia and part of the Vysocina Region, which CEZ bought from energy company E.ON last year, CEZ CFO Martin Novak told CTK today.

CEZ fully took over Gas Distribution in January this year. In the future, CEZ plans to merge it with another distributor, GasNet, Novak said.

Gas Distribution manages a network of 4,600 kilometres of gas pipelines with a total of 111,000 customer points. The GasNet group, which CEZ has owned since 2024, covers 65,000 kilometres of pipelines and serves about 2.2 million customer points, making it the largest gas distributor in Czechia. The gas distribution in Prague is provided by Prazska plynarenska.

CEZ bought Gas Distribution through its subsidiary GasNet but did not specify the price when it announced the acquisition last year. According to the company, the reason for CEZ's expanding position in the gas market is the future role of gas in ensuring the Czech Republic's energy security.

In the future, CEZ plans to integrate Gas Distribution into the GasNet group, a move that is likely to be completed next year. "The process of integrating Gas Distribution into GasNet is underway. In the long term, it does not make sense to have two companies in one business sector," Novak noted.

CEZ's net profit grew by 13 percent year-on-year to CZK14.5bn in Q1, while its operating revenues fell by 9 percent to CZK85bn and EBITDA decreased by 18 percent to CZK35.3bn. Gas Distribution is already reflected in the group's performance for the first quarter, contributing approximately CZK400m to EBITDA.

CEZ is one of the largest energy companies in the Czech Republic. The majority shareholder is the state, which holds about 70 percent of the shares through the Finance Ministry

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