Mid spring is the time to report on the previous business year and the Czech transmission system operator (TSO) ČEPS is no exception in this respect. The TSCNET shareholder looks back on a very solid year with impressive figures: The total volume of electricity at transmission system output in 2019 amounted to 66,447GWh. The maximum transmission grid load of 11,895MW was registered on 24 January and the minimum load of 4,831MW on 4 August.
ČEPS’ successful financial year 2019 is reflected in a profit of about CZK4,04bn (€146.5m) before taxes, which is a significant increase compared to 2018 (CZK3.8bn). This profit is partly due to the export orientation of the Czech TSO in terms of international collaboration. Martin Durčák, Chairman of the Board of Directors of ČEPS, explains: “The Czech export balance amounted to -13,097GWh of electricity. Financial results from commercial activities, particularly from auctions for cross-border capacities and the ITC mechanism, contributed to the profit before tax by approximately a third.”
The good financial result allowed the TSO to invest substantially in the future viability of the Czech transmission system: In 2019, ČEPS invested a total of round CZK5,14bn (€186.4m) in the transmission infrastructure. Nearly 200km of 400kV lines were newly constructed or upgraded. The strong business performance of ČEPS, reflected in robust and predictable cash flow, transparency, and a strong financial profile, is widely recognised. In November 2019, the rating agency Moody’s raised ČEPS’s rating to Aa3 with a stable outlook.