Czech utility ČEZ aims to create new subsidiary by spring 2027, seeks investors

A new subsidiary of Czech energy group ČEZ, into which the company plans to carve out energy sales and distribution, trading and energy services, should be established by the end of the first quarter of 2027 if approved by the general meeting. The company’s management would then begin seeking investors for the new firm, which this year is expected to account for roughly half of the entire group’s operating profit. Daniel Beneš, chairman of the board and CEO of ČEZ, said this at a press conference today.

On Thursday, ČEZ’s management proposed creating a new subsidiary into which it plans to carve out, from its current structure, companies including ČEZ Prodej, ČEZ Distribuce, GasNet, ČEZ ESCO, trading businesses and telecommunications company Telco Pro Services. The company would retain at least a 51% stake in the new subsidiary and offer the remainder to investors. The proposal will be decided by the company’s June general meeting.

According to analysts, the proposal is a crucial step towards the planned nationalisation of the company. The opposition considers nationalisation a threat to investment and minority shareholders and is therefore calling on the government to present a clear plan.