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By: BankTrack
Created on: 2016-07-31 00:00:00
Last update: 2016-11-01 00:00:00

Contact:

climate@banktrack.org


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EPH. Photo: ...
Sector Coal Electric Power Generation, Coal Mining, Hydroelectric Power Generation, Nuclear Electric Power Generation
Headquarters
Ownership

EPH is privately owned. Two thirds are owned by Daniel Kretínský, a Czech businessman, and Patrik Tkáč, a Slovakian businessman. The remaining one thirds is owned by investment company J&T which was also founded by Patrik Tkáč.

Subsidiaries
EP Energy – Czech Republic
SPP Infrastructure – Slovakia
Website http://www.epholding.cz

About EPH

EPH (Energetický a Průmyslový Holding) is a Czech Republic based company currently investing mainly in the energy sector in Central Europe. The group's business lines include coal mining, gas, electricity and heat production and their distribution and sale to customers. Most of the assets are grouped in EP Energy a.s. subholding created in 2010. EPH was formed in 2009 with a small portfolio of only 0.3 gigawatt electricity of coal-fired Combined Heat and Power (CHP) solely in the Czech Republic. Since 2012, EPH has been on a spending spree across Europe (in Slovakia, the United Kingdom, Germany, Italy and the Czech Republic), mostly buying cheap, dirty power stations, financed through over EUR three billion of borrowings.

EPH's business strategy focusses on three factors: access to capital that is still willing to invest in existing technologies, abilitity to cut cost through reductions in employee remuneration and  focused lobbying to avoid regulations or secure support payments.

Latest developments

Environmental organisations call on major European and American banks to stop bankrolling EPH

2016-07-05 00:00:00

EPH and PPF Investments sign agreement for the acquisition of Vattenfall’s German lignite activities

2016-04-18 00:00:00

Impacts

Environmental and climate impacts

The environmental impact of EPH' s investments are vast. It is estimated that EPH accounted for 2.5% of all European power sector CO2 emissions in 2015. Including CO2 emissions from the coal they mine, this rises to 6%. Their published coal reserves of one billion tonnes are equivalent to more than one year of total EU Emissions Trading System (ETS) emissions. These figures will go up dramatically after the sale of Vattenfall's coal activities in Germany to EPH will be completed over the summer of 2016.

In April 2016 urgewald, a German NGO, published its report on Vattenfall, called Vattenfall's dark side. It tells the story of Vattenfall's dirty coal business. Vattenfall's east German power plants are among the top CO2 polluters in the European Union. But instead of beginning to phase-out and retire these CO2 factories, Vattenfall has opted to sell its lignite assets. The outcome for our climate is predictable as EPH, the new owner's intention is to prolong the lifetimes of these plants for as long as possible.

EPH is on course to become Europe’s third most polluting utility, with annual emissions of 82 million tonnes – roughly equivalent to Austria’s carbon footprint.

Governance

Updates

Environmental organisations call on major European and American banks to stop bankrolling EPH

2016-07-05 00:00:00

A group of environmental organisations has sent a series of open letters to major banks involved in granting over EUR three billion in loans to Czech energy company EPH since 2012. The letters call attention to the role of these banks in financing the expansion of EPH into Europe's old fossil fuel assets to the point where the company is set to become the third-most polluting utility on the continent, despite only having existed for seven years. Signatories of the letters comprise BankTrack, E3G, urgewald and Sandbag. Friends of the Earth France has signed the letter directed at Société Générale.

EPH and PPF Investments sign agreement for the acquisition of Vattenfall’s German lignite activities

2016-04-18 00:00:00

A consortium of EPH and its financial partner PPF Investments Ltd., announced the signing of an agreement for the acquisition of lignite operations in Saxony and Brandenburg from Vattenfall AB (source: EPH).

Financiers

The following banks are holding shares and/or bonds in EPH (February 2020): Crédit Agricole, JP Morgan Chase, Deutsche Bank, UBS, DZ Bank and BNP Paribas. For more details see Annex II on page 36-39 of the Fool's Gold report 2020.

In 2014 a EUR 500 million 6-year senior note was issued. No details of banks involved was published. Source on financial institutions involved: Sandbag report: Who are EPH? April 2016.

News

| |
Type:
Year:
blog
external news
our news

UniCredit: a falling star

UniCredit loses its “best in class” credentials for participating in a billion euro financing operation for European coal addict EPH
2021-06-03 | Paris | Reclaim Finance
blog
external news
our news

Re:Common: “UniCredit breached its own coal policy and supports oil & gas expansion"

On the occasion of UniCredit’s 2021 Shareholders' Meeting, Re:Common reports important regressive developments in climate commitments taken by the Italian bank
2021-04-15 | Rome | ReCommon
blog
external news
our news

Fool’s Gold – €16bn for Europe’s biggest climate polluters

2019-05-21 | Berlin | Europe Beyond Coal
blog
external news
our news

Financing of coal industry expansion by top banks undermining Paris Agreement

2016-11-14 | Marrakech, Morocco | BankTrack, Friends of the Earth France, Market Forces, Rainforest Action Network, urgewald
blog
external news
our news

Czech buyers take next step in German coal sell-off

2016-08-23 | Client Earth
blog
external news
our news

Aidée par les banques, EPH, la société qui n’a pas peur de salir

2016-07-08 | l''Humanité
blog
external news
our news

Charbon: la décision énergétique de la Suède contestée par les écologistes

2016-07-07 | Francetvinfo.fr
blog
external news
our news

Le tchèque EPH, nouvelle cible des ONG anticharbon

2016-07-07 | Les Echos
blog
external news
our news

Banks urged to blacklist Czech coal guzzler EPH

2016-07-06 | Climatechangenews.com
blog
external news
our news

Charbon: des ONG appellent à cesser de financer la société tchèque EPH

2016-07-05 | Romandie.com
blog
external news
our news

Des ONG appellent au gel du financement d’EPH, 3ème plus grand énergéticien polluant de l’Europe

2016-07-05 | Agenceecofin.com
blog
external news
our news

Environmental organisations call on major European and US banks to stop bankrolling EPH

2016-07-05 | Nijmegen, the Netherlands | BankTrack, E3G, Friends of the Earth France, Sandbag, urgewald
blog
external news
our news

EPH and the prospective Vattenfall deal

2016-05-10 | Heinrich Böll Stiftung
blog
external news
our news

EPH’s takeover of Vattenfall’s lignite assets should ring alarm bells in Berlin and Stockholm

2016-05-09 | Energypost.eu
blog
external news
our news

EPH eyes new build power stations, further acquisition and SME retail market

2016-02-18 | Utility Week
blog
external news
our news

RWE sells Lynemouth power plant to EPH ahead of biomass conversion

2016-01-07 | The Telegraph UK
blog
external news
our news

E.ON sells most of Italian business to Czech-based EPH

2015-01-12 | Reuters
blog
external news
our news

Czech firm EPH buys Eggborough power plant in Britain

2014-11-05 | Reuters

Documents

Type:
Year:
our publications
2020-07-15 00:00:00

Fool's Gold

The financial institutions risking our renewable energy future with coal
2020-07-15 00:00:00 | Europe Beyond Coal, BankTrack, BlackRock’s Big Problem, Ember, Fundacja "Rozwój TAK - Odkrywki NIE”, Friends of the Earth Finland, Friends of the Earth France, Greenpeace, Reclaim Finance, Re:Common, ShareAction, Urgewald, 350 Japan
ngo documents
2019-05-21 00:00:00

Fool's Gold

The financial institutions bankrolling Europe’s most coal-dependent utilities
2019-05-21 00:00:00 | Europe Beyond Coal
ngo documents
2018-11-20 00:00:00

Last Gasp - The coal companies making Europe sick

2018-11-20 00:00:00 | Climate Action Network Europe
annual reports
2017-08-31 00:00:00

EPH Annual report 2016

2017-08-31 00:00:00 | EPH
correspondence
2016-07-05 00:00:00

Letter from BankTrack et al. to Commerzbank on EPH financing

2016-07-05 00:00:00 | BankTrack et al.
correspondence
2016-07-05 00:00:00

Letter from BankTrack et al. to Citibank on EPH financing

2016-07-05 00:00:00 | BankTrack et al.
correspondence
2016-07-05 00:00:00

Letter from BankTrack et al. to HSBC on EPH financing

2016-07-05 00:00:00 | BankTrack et al.
correspondence
2016-07-05 00:00:00

Letter from BankTrack et al. to ING on EPH financing

2016-07-05 00:00:00 | BankTrack et al.
correspondence
2016-07-05 00:00:00

Letter from BankTrack et al. to JPMorgan Chase on EPH financing

2016-07-05 00:00:00 | BankTrack et al.
correspondence
2016-07-05 00:00:00

Letter from BankTrack et al. to RBS on EPH financing

2016-07-05 00:00:00 | BankTrack et al.
correspondence
2016-07-05 00:00:00

Letter from BankTrack et al. to Raiffeisen Bank on EPH financing

2016-07-05 00:00:00 | BankTrack et al.
correspondence
2016-07-05 00:00:00

Letter from BankTrack et al. to Societe Generale on EPH financing

2016-07-05 00:00:00 | BankTrack et al.
correspondence
2016-07-05 00:00:00

Letter from BankTrack et al. to Unicredit on EPH financing

2016-07-05 00:00:00 | BankTrack et al.
annual reports
2016-06-30 00:00:00

EP Annual report 2015

2016-06-30 00:00:00 | EP Energy
ngo documents
2016-05-31 00:00:00

Nice and clean? Does EPH meet Sweden’s and Vattenfall’s ethical standards?

2016-05-31 00:00:00 | Greenpeace
ngo documents
2016-04-30 00:00:00

Who are EPH?

The Blank New Face of European Energy Companies?
2016-04-30 00:00:00 | Sandbag
ngo documents
2016-04-26 00:00:00

Energy you want?

Vattenfall' s dark side
2016-04-26 00:00:00 | urgewald
annual reports
2015-03-01 00:00:00

EPH annual report 2014

2015-03-01 00:00:00 | EPH

Links

EPH Holding

Acquisitions and companies overview
http://www.epholding.cz/en/about-us/overview-of-companies/

Daniel Kretínský , chairman EPH

Biography Daniel Kretínský (source www.4-traders.com)
http://www.4-traders.com/business-leaders/Daniel-Kretnsk-06F0FW-E/biography/

Patrik Tkáč

Biography of Patrik Tkáč (source www.4-traders.com)
http://www.4-traders.com/business-leaders/Patrik-Tkac-06F0BR-E/biography/
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