ČEPS half-year report: progress despite pandemic

06.10.2020

The development of European electricity infrastructure cannot be delayed, even in the event of a pandemic. The Czech transmission system operator (TSO) ČEPS has therefore continued in the first half of 2020 – and thus in times of Covid-19 – to comprehensively expand the national transmission system to meet new customer requirements as well as demands arising from international cooperation in the electricity market and to keep pace with the changes in the energy landscape. Notwithstanding the increased challenges, the Czech transmission system was as reliable and efficient as usual during the unforeseen circumstances of the six months and the TSCNET shareholder transmitted 32,000GWh of power.

In the reporting period, the income of ČEPS increased, but also the expenses due to the corona pandemic. This was mainly caused by the need to purchase power balancing services to cope with the decline in electricity consumption during the tense economic situation. Nevertheless, with total revenues increasing in the first half of 2020 compared to the same period of the previous year by nearly CZK 1.1bn to CZK 13,002.5m (about €479,243m), the TSO managed to make a respectable profit of CZK 1.8bn (about €66,344m). “In a year-on-year comparison, total sales from sold licensed services grew the most. After disregarding MC shipping, they accounted for 98% of our total revenues,” explains Martin Durčák, Chairman of the Board of Directors of ČEPS.

ČEPS reports positive figures despite the Covid-19 pandemic for the first half of 2020 (picture: ČEPS)

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