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CEZ Names Tes Praha in Complaint With Czech Tax Authorities
2010-08-09 14:10:29.63 GMT
By Lenka Ponikelska
Aug. 9 (Bloomberg) -- CEZ AS, the largest Czech power
producer, said it filed a complaint with the country's tax
office against the carbon trader Tes Praha.
The Prague-based utility sent documents to the tax office
in May alleging that Tes Praha may have been involved in so-
called carousel trades, where traders collect tax and disappear
before turning it to authorities, CEZ said today in an e-mailed
statement.
The Czech police division responsible for corruption and
financial crimes received notification earlier this year and is
looking at Tes Praha's activities, spokesman Roman Skrepek said
by phone. Representatives at Tes Praha in Prague couldn't
immediately be reached by telephone or e-mail today.
CEZ started an internal probe after noting unusual growth
in trade volumes in April and a "suspicious" way of trading,
the company said. The power producer said it signed a standard
agreement with Tes in February to trade European Union emissions
allowances originating in the Czech Republic.
For Related News and Information:
Emissions-trading stories: NI ENVMARKET BN <GO>
Today's top energy news: ETOP <GO>
European power-markets home page: EPWR <GO>
--Editors: Mike Anderson, Randall Hackley.
To contact the reporter on this story: Lenka Ponikelska in
Prague +420-2-2442-2106 or lponikelska1@bloomberg.net.
To contact the editor responsible for this story:
Mike Anderson at +44-20-7673-2718 or
manderson34@bloomberg.net
