Premier Energy takes over CEZ Sale. What the 1.4 million customers need to know

The Competition Council is analyzing an important transaction through which the energy supplier CEZ Vânzare, which serves the south-western area of ​​Romania, was sold.

Steam chimneys

Premier Energy PLC, Cyprus, wants to take over CEZ Sale

The Competition Council is analyzing the transaction by which Premier Energy PLC, Cyprus intends to take over the company CEZ Vânzare SA.

In Romania, Premier Group companies are active on the natural gas market, both as a distributor and as a supplier, as well as on the market for activities related to the distribution of natural gas, respectively: connection and disconnection activities from the network, maintenance connection installations and expansions of distribution networks, etc. Recently, the group has also become active on the electricity market in Romania, as an electricity producer, supplier and trader.

CEZ Vânzare SA is a supplier of electricity mainly and, to a lesser extent, of natural gas, having customers in all regions of Romania, with a predominant activity of supplying electricity in the south-west of the country.

CEZ Vânzare has a portfolio of household and industrial clients that exceeds 1.4 million clients.

Premier Energy LPC carries out holding activities and directly and indirectly controls participations in various companies in Romania and the Republic of Moldova.

In Romania, Premier Energy owns the companies Premier Energy SRL, Ligatne Gas SRL and Premier Energy Trading SRL.

At the end of 2022, the company acquired a 34 MW wind farm, and at the beginning of 2023, it acquired Enex Renewable, one of the wind farms with the best returns in the country, portfolio managed through Alive Capital, part of the Premier Energy group . Premier Energy’s renewable energy production capacity thus reaches 50 MW, in addition to the 700 MW portfolio under management.

In December 2023, Premier Energy, controlled by Czech businessman Jiří Šmejc, director of PPF, the largest investment fund in the region, announced that it would buy CEZ Vânzare from the Australian investment fund Macquarie Asset Management.

The transaction becomes effective after the completion of all necessary legal and commercial procedures. CEZ Vânzare will rebrand with the name of the new owner, who will also take over the 1.4 million customers.

Until the transaction is completed, “CEZ Vânzare customers are invited to use the same communication channels for any aspect related to the company’s operations.”

Loading...
USA News Today