Business Performance

Highlights of the Period

December: 

  • On December 31, 2016, Ing. Jiří Maceška resigned from the positions of a member and Chairman of the ČEPS, a.s. Supervisory Board. His resignation was discussed at
    the meeting of the ČEPS, a.s. Supervisory Board on December 15, 2016.
  • On December 23, 2016, the sole shareholder exercising the powers of the General Meeting of ČEPS a.s. appointed Ing. Jiří Havlíček, MBA, member of the ČEPS, a.s. Supervisory Board with effect from January 1, 2017.

November: 

  • On November 28, 2016, a counter-terrorism drill took place in ČEPS premises. In order to make the drill closer to a real occurrence, none of its participants was given a detailed model situation that was going to take place on the spot. All the actors were only informed that during the day they will become part of a tactical drill in the premises of the ČEPS Company in Bohdalec, Prague.

October: 

  • On October 17, 2016, the SAFEGUARD 2016 drill took place in the Kletné substation. It is
    a series of security drills, which test the cooperation of the Army of the Czech Republic,
    the integrated rescue system and also, for example, the energy companies. Similar events took place in the past in other facilities of the ČEPS Company, specifically in substations Nošovice and Albrechtice.
  • On October 10, 2016 the new 400 kV power line V458 Horní Životice – Krasíkov was included in the energy management system.

September: 

  • On September 19, 2016, a drill of the integrated rescue system (IRS) called OHEŇ 2016 (FIRE 2016) took place at the headquarters of the ČEPS Company in Prague. Its main purpose was to test the capability to take over the dispatching management from the backup control center and to examine the effectiveness of fire protection measures stipulated by
    the internal regulations of the company.
  • On September 22, 2016, the ČEPS, a.s. Supervisory Board elected JUDr. Václav Novák
    the new Vice-Chairman of the ČEPS, a.s. Supervisory Board.
  • On September 30, 2016, the ČEPS Company put into operation a new power line between the Výškov and Čechy Střed substations bearing the service ID V410/419. It is one of
    the largest investments in the development of the Czech electricity transmission system
    in recent years. The line shall ensure safe and reliable transmission of electricity from
    the Northwest to Central Bohemia.
  • On September 30, 2016, in accordance with long-term financing strategy, the ČEPS Company has issued bonds with a total face value of CZK 500 million, 5 years to maturity and a coupon rate of 0.25% per annum. The bond issue is quoted on the Regulated Market of the Prague Stock Exchange. The main manager and administrator of the emission is Česká spořitelna, a.s.

August: 

  • In August, the ČEPS Company was part of the multi-sport Olympic Park in Lipno, which became the center of Czech sports during the summer Olympics in Rio. The company’s presentation belonged to the most popular ones at the event and in terms of the promotional activities of the ČEPS Company, it was the biggest project of 2016. The ČEPS Company is a sponsor of the Czech Olympic Committee, while also supporting other sports through their respective associations and umbrella organizations (basketball, floorball, soccer, volleyball and motorsport).

July: 

  • During July, employees of the company participated in a nationwide competition Commuting by Bike. This year’s event was joined by 51 employees of the company, who during one month covered more than 18.5 thousand kilometers in total.
  • On July 29, the ČEPS Company defended its high credit rating. Moody’s confirmed
    the current A2 rating, also thanks to stable economic results. Maintaining basically
    the highest possible rating was a good precondition for the company’s successful entry into the bond market. The stable outlook takes into account the Moody’s opinion that the issue of bonds will increase the indebtedness of the company; however, the optimal capital structure will be retained.

June: 

  • During June, the ČEPS Company together with Moody’s prepared to defend its rating. According to preliminary information, ČEPS current credit rating at A2 with stable outlook will be confirmed. Indeed, this stable high-level credit rating ensures the Company efficient external funding necessary for investment program financing. Besides, A2 rating is just one level behind the rating of the Czech Republic.
  • During the first half of the year, three of the four PST (Phase Shifting Transformers) were delivered to the Czech Republic. The devices were transported by sea from Italy to Hamburg and then by the Elbe River to Lovosice. Then they were transported into
    the Hradec u Kadaně substation.
  • On June 3, 2016, the sole shareholder exercising its powers of ČEPS, a.s. General Meeting appointed Ing. Lenka Kovačovská, Ph.D, a member of ČEPS, a.s. Supervisory Board.
    At the meeting of the ČEPS, a.s. Supervisory Board on June 15, Ing. Lenka Kovačovská, Ph.D, was elected the Vice-Chairman of the ČEPS, a.s. Supervisory Board.
  • June marked the successful completion of the extensive investment project at the Chodov transformation station, which included building a backup control room.
  • On June 8, 2016, the ČEPS Company participated in the ATOM drill in the Temelín nuclear power station. The drill involved transporting employees from the Kočín transformer station and moving the station control into an alternative location.
  • On June 30, 2016, the sole shareholder exercising its powers of ČEPS, a.s. General Meeting approved the ČEPS, a.s. Annual Report for 2015. Pursuant to Act no. 93/2009 Coll., on auditors and amending certain laws, as amended, and the Articles of Association of ČEPS, a.s., the sole shareholder also decided on establishing, with effect as of July 1, 2016, an audit committee as an independent body of ČEPS, a.s. Effective as of July 1, 2016,
    Ing. Jiří Nekovář, Ing. Ladislav Zelinka a Jan Drahota, MBA were elected as members of this body.

May: 

  • On May 17, 2016, the sole shareholder exercising its powers of ČEPS, a.s. General Meeting selected Ing. Petr Vaněk a member of the ČEPS, a.s. Supervisory Board based on
    a nomination by the Company employees.
  • In May, the ČEPS Company hosted an accompanying exhibition of the architect Jan Špaček, which is an extraordinary example of a confrontation between technology and art.

April: 

  • On April 1, 2016, the ČEPS, a.s. Board of Directors elected Ing. Jan Kalina the Chairman of the ČEPS, a.s. Board of Directors.
  • On April 6, 2016, the ČEPS Company participated in the RAD drill. The drill simulated
    a situation where there was a significant threat to the safety and reliability of
    the transmission system and it was necessary to declare a state of emergency in
    the electricity sector.
  • On April 27, 2016, the ČEPS Company took an active part in the Vysočina Region drill called Blackout. The drill included convening of a crisis management team and a simulated declaration of a state of emergency.

March:

  • On March 30, 2016, the ČEPS, a.s. Supervisory Board elected Ing. Jiří Maceška
    the Chairman of the ČEPS, a.s. Supervisory Board.
    On March 30, 2016, Ing. Karel Pícl resigned from the position of a member and
    Vice-Chairman of the ČEPS, a.s. Supervisory Board, effective as of March 31, 2016.
    On March 30, 2016, The ČEPS, a.s. Supervisory Board removed Ing. Vladimír Tošovský from the position of Chairman of the ČEPS, a.s. Board of Directors, effective as of March 31, 2016.
    On March 30, 2016, The ČEPS, a.s. Supervisory Board elected Ing. Karel Pícl a member
    of the ČEPS, a.s. Board of Directors, effective as of April 1, 2016.
    On March 30, 2016, The ČEPS, a.s. Supervisory Board elected Ing. Zbyněk Boldiš
    a member of the ČEPS, a.s. Board of Directors for the next term effective as of
    August 29, 2016.
    On April 1, 2016, the ČEPS, a.s. Board of Directors elected Ing. Jan Kalina the Chairman
    of the ČEPS, a.s. Board of Directors.
  • On Wednesday, March 30, under the auspices of the ČEPS, a.s. Company a seminar was held in the Senate of the Parliament of the Czech Republic. The event, aimed especially
    at security community, served to discuss reliability of operation of the transmission system from the perspective of national security. The ČEPS, a.s. Company was represented at this event by Vice-Chairman Miroslav Vrba.
  • ČEPS, a.s. closed the auction round of a tender concerning electricity supplier for 2016 and 2017 losses cover, focused on the purchase of monthly electricity bandwidth for April 2016 and yearly bandwidth for 2017.

February: 

  • ČEPS, a.s. succeeded with its application for a grant for the construction and development of the transmission system in the Czech Republic, receiving over one million euros from
    the European Commission program Connecting Europe Facility (CEF).


January:

  • At the turn of January and February, the selected ČEPS employees participated in two runs of cybernetic drill, prepared together with Corpus Solutions. The tutors from this company were trained in cybernetic training facility CYBERGYM in Israel.
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