EEI International Utility Award Winners Announced
The Czech-based CEZ Group and the Italian-based Acea SpA have been named winners of the first-ever EEI International Utility Award, which recognizes the most outstanding financial results by European utilities in both large-cap and small-cap categories over a three-year period.
The awards, presented today at the Edison Electric Institute’s 8th International Utility Conference, are based on peer group analysis that values total return among 35 European electric utilities over a three-year period. The newly inaugurated international award is designed to mirror the U.S.-based Index Award, which since 1998 has recognized the U.S. electric utility posting the best total return.
For the three-year period ending Dec. 31, 2006, CEZ Group was the top ranking large-cap company with a 780% total return, which was also the highest return among all European companies. Verbund was the next highest large-cap with a return of 379%.
For the three-year period ending December 21, 2006, Acea SpA was the top ranking small-cap company with a total return of 235%. Red Electrica de Espana was the second place finisher among small-cap utilities with a return of 184%.
CEZ Group ranks among the top ten largest energy companies in Europe, both in terms of installed capacity and number of customers. Operating in nine countries, it occupies a leading position on the Central European electricity market. The company’s recent success is the outcome of strategic acquisitions in Central and Southeastern Europe, structure of the generation fleet, and cost optimization strategies.
Acea SpA is Italy's largest water utility and a top electricity distributor, managing Rome’s distribution grid. The company also produces, trades, and sells power through its subsidiary AceaElectrabel. Acea’s recent success is a result of its commitment and dedication to a complex plan of strategic repositioning aimed primarily at creating value for its shareholders.
Alan Svoboda, Director for Sales and Trading, accepted the award for CEZ, and CEO Andrea Mangoni accepted for Acea SpA.
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