CEZ to invest close to CZK 20bn in distribution networks in 2024

CEZ Distribuce, Czechia's largest electricity distributor, is set to invest a record CZK 19.7 billion this year, focusing on grid upgrades, substations, and renewable connections, said CEZ spokeswoman Sona Holingerova. CZK 8.8 billion will go toward connecting new customers and renewable sources. The European Investment Bank (EIB) has lent CEZ EUR 400 million to modernize and expand the distribution network by 2026. Analysts stress that Czechia's outdated grid urgently needs investment to handle decentralization, increased consumption, and smart metering. Annual investment may rise by 38%, nearing CZK 40 billion in coming years.