EP Infrastructure

EP Infrastructure, a.s.
FormerlyCE Energy, a.s.
TypePrivate
IndustryEnergy infrastructure
FoundedDecember 6, 2013; 12 years ago (2013-12-06)
Headquarters
Prague
,
Czech Republic
Key peopleDaniel Křetínský (chairman)
Revenue€3.115 billion (2025)
Total assets€11.804 billion (2025)
Owner
Websitewww.epinfrastructure.cz

EP Infrastructure, a.s. (EPIF) is a Czech energy infrastructure company headquartered in Prague. Its businesses are concentrated mainly in Slovakia and the Czech Republic and include natural gas transmission, gas storage, electricity distribution and district heating.

EPIF was formed in its present structure in 2016, when Energetický a průmyslový holding (EPH) grouped a number of its infrastructure businesses under the company. EPH owns 69% of EPIF. The remaining 31% is held by institutional investors managed by Macquarie Asset Management.

History

The company was incorporated in December 2013 as CE Energy and renamed EP Infrastructure in 2016.

Later that year, EPH agreed to sell a minority stake in EPIF to a consortium led by Macquarie Infrastructure and Real Assets. The transaction was completed in 2017, leaving EPH with 69% of the company.

EPIF subsequently reduced some of its heating and power-generation holdings. In 2020, it sold Pražská teplárenská and its stake in Budapesti Erőmű to Veolia.

A major change to the gas-transmission business came in January 2025, when Russian gas transit through Ukraine ended. Volumes transported by Eustream fell from 17.8 billion cubic metres in 2024 to 4.9 billion in 2025. Adjusted EBITDA from gas transmission declined from €413 million to €171 million over the same period.

Operations

Gas and electricity distribution

In Slovakia, EPIF holds a 49% stake in SPP Infrastructure and exercises management control. The remaining 51% is indirectly owned by the Slovak state. SPP Infrastructure owns SPP-distribúcia, which operates more than 35,000 km of gas pipelines, carries over 98% of the gas distributed in Slovakia and serves more than 1.5 million customers.

EPIF also owns 49% of Stredoslovenská energetika (SSE), alongside the Slovak state's 51%. SSE's subsidiary Stredoslovenská distribučná is one of Slovakia's three regional electricity distributors, operating a network of more than 32,500 km in central Slovakia with nearly 800,000 connection points.

Gas and electricity distribution was EPIF's largest business segment in 2025, with adjusted EBITDA of €572 million.

Gas transmission

Eustream operates EPIF's gas transmission business and Slovakia's high-pressure transmission network. The network historically formed part of a major route carrying Russian gas through Ukraine to Central and Western Europe.

Flows through Slovakia fell sharply after Russian gas transit through Ukraine ended at the beginning of 2025.

Gas storage

EPIF has gas-storage operations in Slovakia, the Czech Republic and Germany. Its holdings include NAFTA, POZAGAS, SPP Storage and NAFTA Speicher.

Heat infrastructure

EPIF also has district-heating operations in the Czech Republic. The size of this business has declined over time as assets were sold or transferred elsewhere within EP Group.

See also

References

  1. 1 2 Annual Financial Report 2025 (PDF) (Report). EP Infrastructure. 23 March 2026. Retrieved 19 September 2026.
  2. 1 2 3 4 5 6 7 Annual Financial Report for the Year 2025 (Report). EP Infrastructure. 2026. Retrieved 28 September 2026.
  3. ↑ "EPH založil nového infraštruktúrneho giganta". Energia.sk (in Slovak). SITA. 12 April 2016. Retrieved 28 September 2026.
  4. ↑ "Macquarie Infrastructure and Real Assets invests in a portfolio of infrastructure assets in Slovakia and the Czech Republic" (Press release). Macquarie Group. 17 October 2016. Retrieved 28 September 2026.
  5. ↑ "Křetínský prodá teplo Francouzům. Pražskou teplárenskou kupuje skupina Veolia". Forbes Česko (in Czech). MediaRey, SE. Czech News Agency. 7 September 2020. Retrieved 28 September 2026.
  6. 1 2 "Slovak gas pipeline operator's owner posts H1 earnings drop after gas flows halted". Reuters. 3 September 2025. Retrieved 28 September 2026.
  7. ↑ Annual Report 2024 (PDF) (Report). SPP-distribúcia. 2024. Retrieved 28 September 2026.
  8. ↑ "Eastern European Utilities' Regulatory Frameworks Are Varied, But Most Are Adequate To Strong". S&P Global Ratings. 18 September 2023. Retrieved 28 September 2026.
  9. ↑ "System Description and Map". Eustream. Retrieved 28 September 2026.
  10. ↑ Eustream, a.s. – Credit Opinion (PDF) (Report). Moody's Investors Service. 2 February 2023. Retrieved 28 September 2026.
  11. ↑ "EP Infrastructure, a.s. (EPIF) Announces Asset Transfer to EP Heat & Power a.s. (EP H&P)" (Press release). EP Infrastructure. 3 April 2025. Retrieved 28 September 2026.