PM: State considering dividing up energy giant ČEZ

The government is considering a destructuralisation of energy company ČEZ, in which the Czech state is a majority shareholder, Prime Minister Petr Fiala told Hospodářské noviny in an interview published on the daily newspaper’s website on Thursday. Mr Fiala said that one of the options would be to divide the company. However, he said that a thorough analysis is needed before any decision can be made.

ČEZ shares rose by 8 percent on the Prague Stock Exchange after news site Seznam Zprávy reported on Wednesday that the government is considering getting the company’s power plants under state control in order to gain control over energy prices.

However, analysts questioned by the Czech News Agency said that such a move would not be able to help alleviate the current energy crisis, as it would take several years to implement. However, there was consensus that it would enable the state to gain control over energy prices.