OLAF opens probe into ČEPS grid modernisation projects

The European Anti-Fraud Office (OLAF) has launched an investigation into projects to modernise the Czech electricity grid previously carried out by ČEPS. The state-owned company used hundreds of millions of crowns from EU funds for the upgrades. A control visit is scheduled for March 12 at ČEPS headquarters, focusing on projects financed under the Operational Programme Enterprise and Innovation for Competitiveness in 2014–2020. OLAF investigates suspected fraud and corruption involving EU spending but cannot prosecute. ČEPS said it will provide full cooperation and declined further comment.