The Czech Republic-based CEZ Group and Red Eléctrica de España were named winners of the EEI International Utility Award, which recognizes the most outstanding stock performance by European utilities in both large-cap and small-cap categories over a three-year period.

The international awards, presented at the Edison Electric Institute's 9th International Utility Conference, are based on peer-group analysis that values total return among 31 European electric utilities over a three-year period ending Dec. 31, 2007. The award, in its second year, is designed to mirror the U.S.-based EEI Index Award, which since 1998 has recognized the large- and small-cap U.S. electric utilities posting the best total returns.

CEZ Group was the top ranking large-cap company for the second consecutive year. The company's 422-percent total return also was the highest among all European companies. Fortum Oyj was the next highest large-cap with a return of 277 percent.

Red Eléctrica de España was the top ranking small-cap company with a total return of 203 percent. ACEA, the 2007 EEI small-cap winner, was the second-place finisher among small-cap electric utilities with a return of 115 percent.