Karlsruhe.Working together with the Czech company Pražská energetika Holding a.s., EnBW Energie Baden-Württemberg AG has undertaken a joint venture with Prague city council, and acquired a 7.1% block of shares in Pražská energetika a.s. (PRE) from the Czech government. This increases the shares in PRE held by Pražská energetika Holding a.s. to 58%.
The Prague-based energy company PRE supplies electricity to around 700,000 customers, most of whom live in the Czech capital and the city of Rostocky that lies to the North East of Prague, making it one of the three largest energy suppliers in the Czech Republic. In 2007 PRE achieved revenues of more than € 650 million with an electricity output of approximately 6.5 terawatt hours.
By increasing its number of shares, EnBW not only underpins its involvement in the Czech Republic but also makes it clear that its participation in the energy supply company for the capital city of Prague is an important part of its future activities in the growth markets of Central Europe. EnBW's major on-site partner is Prague city council, which holds a 51% share in Pražská energetika Holding a.s. EnBW and Prague city council also have joint holdings in PT, the Prague-based district heating company.