The whole situation is very strange and many people do not understand. CEZ is a state-owned company that has been making record profits in recent months. Its shares are rising to the skies and managers are paying hundreds of millions. On the other hand, it regularly publishes new price lists, where gas and electricity prices are again significantly increased. The last time this happened was a few days ago, when new prices rose by up to 80%. And at a time when so many people no longer have the money for them. No wonder many are calling for a hard hit.
The state did not say a decisive word
The problem is that CEZ is in fact only a semi-state company. Some of the shares are held by private shareholders, so the company’s management may make excuses that it must act with due diligence. In translation, this means raising prices as the market allows. They just have to take advantage of the situation and maximize the profit for the shareholders.
There can be no question that ordinary people, ie CEZ’s customers, should be taken into account. The company’s management is accountable only to shareholders. On the other hand, it is also true that the state is clearly the largest, which can use its decisive word. But he hasn’t done that yet.
Will ČEZ be sliced?
The truth is that CEZ shareholders are experiencing the best period in history. One share of this energy company recently exceeded the value of a thousand crowns and continues to rise. Experts emphasize that if the giant can keep prices high and possibly increase them, they may have even greater shareholders.
On the other hand, dissatisfaction is growing and CEZ seems to have exaggerated. Alternatively, the situation is so extreme that it simply cannot be left. In recent weeks, there has been a lot of talk about CEZ being divided into a purely state and a purely private part in order to prevent schizophrenic situations.
Within the state part, the state could then, for example, introduce some form of regulation for electricity or gas. But this process will certainly not be easy, and if it does, it will take some time.
In any case, the big question is whether it is wise from the point of view of ČEZ’s management to pay huge rewards at this time. The management will share 135 million crowns thanks to excellent results. People who have trouble paying bills for energy will find it very difficult to understand. Logically, they get the idea that someone is making money on them.
Author’s commentary by Petr Vavrenka
Foto: Shutterstock
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