CEZ offers to sell two power plants in resumed talks with Czech Coal - report.

By bne IntelliNews February 1, 2012
Czech energy group CEZ has resumed talks with Czech Coal over coal supplies and has reportedly considering the sale of two power plants, Hospodarske Noviny business daily reported citing unnamed sources. CEZ is offering its Pocerady and Chvaletice power plants in a bid to solve a five-year legal battle with Czech Coal over long-term coal deliveries. Czech Coal spokeswoman Gabriela Sarickova Benesova confirmed negotiations between the companies were taking place but her CEZ counterpart, Eva Novakova, declined to comment. CEZ, majority owned by the state, claims that the two companies signed in 2005 a cooperation agreement that should have been followed by mid-2007 by a deal to supply coal for up to the year 2055. But the deal has never been signed and as a result CEZ was forced to freeze plans for a new coal plant at Pocerady.

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