Pro média

STATEMENT ON THE INSOLVENCY PETITION FILED BY CZECH COAL

8.4.2010

We regard the petition filed by Litvínovská uhelná from the Czech Coal Group for the commencement of insolvency proceedings against United Energy as completely unfounded, and we dismiss it in principle. Moreover, the Czech Coal receivable now being demanded has ceased to exist by way of a set-off.

Czech Coal’s above petition is an absurd manoeuvre, such as is, unfortunately, typical of Czech Coal. United Energy honours all of its obligations to Czech Coal as well as those to its other suppliers as due and payable. On the contrary, over the past more than two years Czech Coal has repeatedly failed to honour its obligations arising from its taking heat from United Energy.

We regard the petition filed by Litvínovská uhelná from the Czech Coal Group for the commencement of insolvency proceedings against United Energy as completely unfounded, and we dismiss it in principle. Moreover, the Czech Coal receivable now being demanded has ceased to exist by way of a set-off.

Czech Coal’s above petition is an absurd manoeuvre, such as is, unfortunately, typical of Czech Coal. United Energy honours all of its obligations to Czech Coal as well as those to its other suppliers as due and payable. On the contrary, over the past more than two years Czech Coal has repeatedly failed to honour its obligations arising from its taking heat from United Energy.

The procedure followed by the competent court in respect of Czech Coal’s petition was purely formal and technical, i.e., in no case can it be understood as the court acknowledging any of Czech Coal’s demands or claims raised against United Energy.

United Energy is one of the leading independent Czech electricity and heat producers. It operates a combined heat and power generation plant in Komořany near Most, having a total installed electrical capacity of 239 MWe. It supplies heat to 35,000 households in the towns of Most and Litvínov, and also to a number of commercial properties, industrial companies, health facilities, schools, etc.

UNITED ENERGY is part of the ENERGETICKÝ A PRŮMYSLOVÝ HOLDING group.

Martin Maňák

Director of Communications

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