Energetický a průmyslový holding, a.s. (EPH) is a Czech Republic (Prague) based company currently investing mainly in the energy sector in Europe, founded in 2009. The group's business lines covers the complete value chain ranging from highly efficient cogeneration, power generation, and natural gas transmission, gas storage, gas and electricity distribution and supply. The majority owner is Czech entrepreneur and lawyer Daniel Křetínský (94%), who is ranked among the richest Czechs in the long term and according to Forbes he became a dollar billionaire in 2017. The remaining 6% is distributed among selected managers of EPH. EPH employs almost 25.000 people and comprises over 50 companies.
Ownership
Company was founded in August 2009 as (indirect) subsidiary of J&T Finance Group, as of October 2009 ownership structure was PPF (40%), J&T (40%) and Daniel Křetínský. In August 2012 PPF converted part of its debt for EPH shares and increase its share to 44.4% (decreasing J&T share to 37.04% and Daniel Křetínský share to 18.52%). In June 2014 PPF sold its stake for 1.1 EUR billions, since then ownership Daniel Křetínský and Patrik Tkáč own 2/3 share and J&T 1/3 share. As of December 31, 2014 shareholders were equally BIQUES LIMITED (part of J&T PARTNERS I L.P.), MILEES LIMITED (part of J&T PARTNERS II L.P.) and EP Investment S.à r.l. (owned by Daniel Křetínský), while rest of 44.4% was treasury stock. Treasury stocks were cancelled in September 2015.
In October 2015 EPH announced its plan to reorganise all of its Central European infrastructure assets under one holding company, EP Infrastructure, and possibility of the disposal of a minority stake in that holding, including an initial public offering.
In November 2016 EPH announced change in its shareholder structure and sale of 31% stake in EP Infrastructure to Macquarie Infrastructure and Real Assets (MIRA). After this transaction Daniel Křetínský will ultimately own 94% of EPH and the remaining 6% will by owned by managers of EPH.
Activities by country
Czech Republic
Main assets held in the Czech Republic are: – 363 MW cogeneration coal power station near Hradec Králové and Pardubice with extensive heat distribution network United Energy – Most based electricity and heat production company Plzeňská energetika – Plzeň based electricity and heat production company Pražská teplárenská (50.1% share directly, 49% share on 47,3% shareholder) – Prague based heat production company EP Renewables - renewable power plants developer – freight railway company
France
Since December 2018 EP Power Europe, a subsidiary of EPH, is negotiating to acquire all the French assets of German group Uniper. These assets include two gas-fired power plants with a total capacity of 828 MW, two coal power plants with an installed capacity of 1,200 MW, a 150 MW biomass power plant and 100 MW of wind and solar resources. Agreements were signed in July 2019.
Germany
- coal mining company (Profen coal mine, United Schleenhain coal mine), owner of three smaller cogeneration coal power stations Buschhaus Power Station and nearby Saale Energie (41.9% stake) - owner of 916 MW Schkopau Power Station
On 30September 2016, Vattenfall completed the sale of its German lignite facilities to the Czech energy group EPH and its financial partner PPF Investments. Named afterwards LEAG. The following assets were transferred:
power plants
(3,000 MW) Schwarze Pumpe power station (1,600 MW) (1,900 MW) 50% stake in (1,840 MW) coal mines
(closed as of September 2016)
An October 2016 blog post speculates that the new owners are banking on government compensation for the forced early retirement of these assets. They may either seek capacity payments for staying online and providing backup or they may decommission and sue for lost profits.
In November 2017 EPH subsidiary EP Power Europe acquired 750 MWe Mehrum Power Station.
In May 2019 EPH subsidiary EP Logistics International acquired freight railway company .
Hungary
In June 2015 it was announced, that EPH will acquire 95.6% stake in Budapesti Erőmű from Électricité de France. Budapesti Erőmű owns three gas-fired cogeneration plants in Budapest region: (installed capacity of 188 MWe and 395 MWth), (105 MWe and 421 MWth) and (113 MWe and 366 MWth). These plants meet almost 60% of the demand for heat in Budapest and generate approximately 3% of Hungarian electricity.