Satisfying year for ČEPS

11.04.2017

TSC member ČEPS, the Czech transmission system operator (TSO), has every reason to be content with the business year 2016. With a profit of CZK2.072bn (about €78m) before taxes, the company achieved an increase of CZK56m (about €2.1m) in comparison to 2015. As in previous years, ČEPS has continued its engagement in developing the Czech transmission system also in 2016 and spent about CZK4.7bn (about €176.8) on infrastructural measures. As far as the core TSO business is concerned, ČEPS transferred a total of 62,914GWh of electric energy through the national transmission system in 2016.

Last year’s profit increase is mainly due to reduced costs for redispatch measures. Jan Kalina, Chairman of the ČEPS Board of Directors, is “satisfied with the results”, and explains that ČEPS “anticipated more significant expenses associated with international redispatching, however, this scenario did not occur”. The new phase-shifting transformers in the northern Bohemian substation in Hradec u Kadaně – partially delivered in 2016 and expected to be in full operation by the end of June 2017 – will be additionally helpful in this matter since they are capable of limiting power overflows in the Czech transmission system. Another significant contribution to the grid extension in the Czech Republic is the completion of the new 440kV line from Krasíkov to Horní Životice linking the Olomouc to the Moravian-Silesian region.

In order to support financing the infrastructural investments, ČEPS issued bonds with a total face value of CZK500m (about €19m). The bond issue which is quoted on the Regulated Market of the Prague Stock Exchange is part of the TSOs long-term strategy, comments Jan Kalina.

> See ČEPS press release (html)

Picture: Screenshot taken from video “Výstavba zdvojeného vedení V410/419” (ČEPS, YouTube)

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Satisfying year for ČEPS