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CEZ sales chief sees no short-term rise in power prices
November 8, 2012 / 9:52 AM / 5 years ago

CEZ sales chief sees no short-term rise in power prices

PRAGUE, Nov 8 (Reuters) - Czech wholesale power prices, which have hit all-time lows in recent weeks, are not likely to rise any time soon, CEZ Sales and Trading Chief Alan Svoboda told a news conference on Thursday.

The benchmark Czech Cal ‘13 contract has touched all-time lows a number of times the past few weeks due to low spot prices and a weak economy that has made future energy demand uncertain.

Svoboda was speaking after CEZ, central Europe’s biggest utility, released its third-quarter financial results. He also said the average price for electricity CEZ has pre-sold for 2013 was 51.50 euros.

On Wednesday, Cal ‘13 baseload dipped to 46.50 euros per megawatt hour on the Prague-based Power Exchange Central Europe. (Reporting by Jan Korselt, writing by Michael Kahn; Editing by Jan Lopatka)

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