Bloomberg News

CEZ Drops, Leads Czech Shares Lower as Electricity Price Falls

March 12, 2012

CEZ AS (CEZ), the biggest power utility in the Czech Republic, fell to the lowest in more than a month as the price of electricity declined after Chinese exports data missed estimates.

The stock dropped as much as 1.6 percent to 794 koruna, its lowest intraday level since Feb. 6, and traded down 1.2 percent at 796.9 koruna by 11:02 a.m. in Prague. The 14-member PX (PX) gauge, where CEZ has a 19 percent weighting, slid 0.4 percent.

Power for next-year delivery in Germany, where CEZ exports part of its output, retreated 0.9 percent to 52.25 euros per megawatt-hour.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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