ČEZ Group (Czech: 'Skupina ČEZ'České Energetické Závody) is a conglomerate of 96 companies (including the parent company ČEZ, a.s.), 72 of them in the Czech Republic. Its core business is the generation, distribution, trade in, and sales of electricity and heat, trade in and sales of natural gas, and coal extraction. ČEZ Group operates also in Germany, Hungary, Poland, Romania, Slovakia and Turkey. ČEZ, a.s. is listed on Prague Stock Exchange and Warsaw Stock Exchange.
ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its majority shareholder is the Czech government, owning 70% of shares. Its historical political activities have come under scrutiny. According to The Economist, "though nominally state-run, many see the power flowing the other way: from CEZ's board into politics". Capital Group Companies invested 2.98% into ČEZ Group. Since 2011, when Daniel Beneš became the CEO these calls have faded out.
As of late 2010, the EU was investigating the company's activities. Comments made by third parties under the market test have shown no need to materially change the commitments proposed by ČEZ to the European Commission in June 2012. Under the Settlement Agreement, ČEZ undertakes to sell one of five specific power plants with an installed capacity of at least 800 MW.
In January 2013, Albania started a dispute by removing the CEZ license to operate in Albania. In June 2014 both parties agreed to settle a dispute. Albania will pay CEZ 100 million euros by 2018 in yearly installments, an amount roughly equal to CEZ's initial investment.
In February 2013, Bulgarians began to mass protests against the company and two other foreign-owned power distributors, suggesting the government to follow the case of Albania. All three were fined by Bulgarian competition watchdog. However, ČEZ said it had not breached Bulgarian and European laws and would launch an appeal against the ruling in court.
In 2015, ČEZ scored first in Deloitte CEE Top 500 according to market cap and fourth in overall ranking and was elected overall winner of the 2015 Euromoney Best Managed Companies Survey for Central and Eastern Europe.
In March 2024, it was announced ČEZ had agreed to acquire a 55.21% stake in the Czech Republic gas distribution network operator, GasNet in a deal valued at €846.5 million. On October 29 a report came out stating that the company has signed an agreement with Rolls-Royce SMR to develop small modular reactors.
Power stations
The following table lists selected ČEZ Group generating facilities and their installed electrical capacity as of 31 December 2025. Facilities are in the Czech Republic unless another country is indicated.
Dětmarovice's generation licence expired on 27 February 2026. Hodonín and Poříčí II also supply heat; their capacities above refer only to electricity generation.
Electricity capacity, generation and emissions
Year
Installed capacity
(MW)
Gross generation
(GWh)
Emissions intensity
(t CO2e/MWh)
2017
14,864
62,887
0.41
2018
14,848
63,081
0.40
2019
14,643
64,635
0.38
2020
12,933
60,946
0.34
2021
11,832
56,008
0.29
2022
11,836
54,302
0.29
2023
11,943
51,451
0.27
2024
12,067
50,618
0.27
2025
11,584
51,185
0.24
Capacity and generation figures are from ČEZ's 2019 annual report for 2017–2019, and its consolidated operating indicators for 2020–2025. Emissions-intensity figures are from the 2024 Sustainable Financing Framework for 2017–2022, the 2023 sustainability report for 2023, and the 2025 annual report for 2024–2025.
Emissions intensity covers electricity and heat generation; changes in the group's generating portfolio affect comparisons between years.
ČEZ Group’s main business is in the Czech Republic. It also operates power plants and provides energy services in other European countries.
Distribution and supply
ČEZ Distribuce operates an electricity distribution network covering about two-thirds of Czech territory. More than 3.8 million delivery points were connected to it at the end of 2025. Another subsidiary, ČEZ Prodej, sells electricity and natural gas to households and businesses.
GasNet’s distribution network covers most of the country, excluding Prague and South Bohemia. Gas Distribution serves South Bohemia and part of Vysočina and joined ČEZ Group in January 2026.
Energy services
In the Czech Republic, ČEZ ESCO installs and operates rooftop solar systems and combined heat and power units for businesses and public bodies. It also modernises heating systems and public lighting.
Elevion’s subsidiaries provide energy services in Germany and other countries. They install electrical systems, heating and cooling equipment in buildings. Their work also includes building solar power plants and battery storage facilities and maintaining them once in operation.
Mining
Severočeské doly operates the Bílina and Nástup Tušimice brown-coal mines. Most of its production supplies ČEZ Group’s power stations and heating plants.
Shareholders and stock listing
In 1994 a minor stake in the company was privatized using voucher privatization. If citizens invested all their vouchers (sold for 1000,- Kčs) in ČEZ, they gained 33 stocks (330 current shares after stock split). In 2007 the Czech government decided to gradually sell another 7% stake of ČEZ on the stock market, but due to the stock price fall during spring 2009, affected by 2008 financial crisis, selling was suspended. In 2008, the company decided to repurchase 9% of the company's shares.
As of 31 December 2025, the Czech Republic, represented by the Ministry of Finance, held 69.78% of ČEZ's share capital and 69.93% of its voting rights. Other shareholders with holdings above 1% were Belviport Trading Limited (2.42%), PPF banka (1.58%) and Chase Nominees Limited (1.26%).
In October 2024, ČEZ took a 20% stake in Rolls-Royce SMR at a cost of "several hundred million pounds"; ČEZ plan to deploy up to 3 GWe of SMR generation capacity in the 2030s in the Czech Republic.
Electric vehicle charging
ČEZ operates a public electric vehicle charging network in the Czech Republic under the futurego brand. Its first public charging station opened outside its headquarters in Prague on 30 November 2011.
By the end of 2025, ČEZ operated 1,048 public charging stations with a combined charging power of 109.5 MW. The stations delivered almost 15 GWh of electricity during the year. Its subsidiary ČEZ ESCO also installs charging stations for businesses and municipalities.
Influence on politics
ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its influence on the Czech politics and connections to Russia have come under scrutiny. According to the Economist, "though nominally state-run, many see the power flowing the other way: from ČEZ's board into politics".
The management of ČEZ has financed the country's largest political parties – the Civic Democratic Party (ODS) and the Social Democrats (ČSSD). One analysis points out that the financing has resembled that coming from PPF and J&T, two firms which have been highly active in Russia since the early 1990s (for example, Russia was one of the first international expansion destinations of Home Credit, a PPF-owned lending company) and their senior management is known to have links to the former Czechoslovak StB security service and the Soviet KGB.
In 2010, a Czech court ruled that, as a state-owned company, ČEZ must disclose political activities.
Leaked pictures show politicians across political spectrum, including former Prime Minister Mirek Topolánek, holidaying with ČEZ lobbyists in Italy.
As of late 2010 the European Union was investigating ČEZ. The company's offices were raided in November 2010.
ČEZ was said to have selected a mysterious company called CEEI to construct a billion dollar nuclear storage facility for the Czech Republic. The company's paper trace ends in U.B.I.E, a company registered in Liechtenstein. Russia's honorary consul is named as its director. The company is believed to be under Russian control.
CEEI's directors include Václav Klaus's former chief of staff (Jiří Kovář) and a man who is jail for kidnapping.
In 2015, ČEZ scored first in Deloitte CEE Top 500 according to market cap and forth in overall ranking.
CZK 333.39 billion (2025)
CZK 249.95 billion (2025)
