EP Infrastructure
 | |
| Formerly | CE Energy, a.s. |
|---|---|
| Type | Private |
| Industry | Energy infrastructure |
| Founded | December 6, 2013 |
| Headquarters | , Czech Republic |
| Key people | Daniel Křetínský (chairman) |
| Revenue | €3.115 billion (2025)[1] |
| Total assets | €11.804 billion (2025)[1] |
| Owner |
|
| Website | www |
EP Infrastructure, a.s. (EPIF) is a Czech energy infrastructure company headquartered in Prague. Its businesses are concentrated mainly in Slovakia and the Czech Republic and include natural gas transmission, gas storage, electricity distribution and district heating.[2]
EPIF was formed in its present structure in 2016, when Energetický a průmyslový holding (EPH) grouped a number of its infrastructure businesses under the company.[3] EPH owns 69% of EPIF. The remaining 31% is held by institutional investors managed by Macquarie Asset Management.[2]
History
[edit]The company was incorporated in December 2013 as CE Energy and renamed EP Infrastructure in 2016.[2]
Later that year, EPH agreed to sell a minority stake in EPIF to a consortium led by Macquarie Infrastructure and Real Assets.[4] The transaction was completed in 2017, leaving EPH with 69% of the company.[2]
EPIF subsequently reduced some of its heating and power-generation holdings. In 2020, it sold Pražská teplárenská and its stake in Budapesti Erőmű to Veolia.[5]
A major change to the gas-transmission business came in January 2025, when Russian gas transit through Ukraine ended.[6] Volumes transported by Eustream fell from 17.8 billion cubic metres in 2024 to 4.9 billion in 2025. Adjusted EBITDA from gas transmission declined from €413 million to €171 million over the same period.[2]
Operations
[edit]Gas and electricity distribution
[edit]In Slovakia, EPIF holds a 49% stake in SPP Infrastructure and exercises management control. The remaining 51% is indirectly owned by the Slovak state. SPP Infrastructure owns SPP-distribúcia, which operates more than 35,000 km of gas pipelines, carries over 98% of the gas distributed in Slovakia and serves more than 1.5 million customers.[7]
EPIF also owns 49% of Stredoslovenská energetika (SSE), alongside the Slovak state's 51%.[8] SSE's subsidiary Stredoslovenská distribučná is one of Slovakia's three regional electricity distributors, operating a network of more than 32,500 km in central Slovakia with nearly 800,000 connection points.
Gas and electricity distribution was EPIF's largest business segment in 2025, with adjusted EBITDA of €572 million.[2]
Gas transmission
[edit]Eustream operates EPIF's gas transmission business and Slovakia's high-pressure transmission network.[9] The network historically formed part of a major route carrying Russian gas through Ukraine to Central and Western Europe.[10]
Flows through Slovakia fell sharply after Russian gas transit through Ukraine ended at the beginning of 2025.[6]
Gas storage
[edit]EPIF has gas-storage operations in Slovakia, the Czech Republic and Germany. Its holdings include NAFTA, POZAGAS, SPP Storage and NAFTA Speicher.[2]
Heat infrastructure
[edit]EPIF also has district-heating operations in the Czech Republic. The size of this business has declined over time as assets were sold or transferred elsewhere within EP Group.[11]
See also
[edit]References
[edit]- 1 2 Annual Financial Report 2025 (PDF) (Report). EP Infrastructure. 23 March 2026. Retrieved 19 September 2026.
- 1 2 3 4 5 6 7 Annual Financial Report for the Year 2025 (Report). EP Infrastructure. 2026. Retrieved 28 September 2026.
- ↑ "EPH založil nového infraštruktúrneho giganta". Energia.sk (in Slovak). SITA. 12 April 2016. Retrieved 28 September 2026.
- ↑ "Macquarie Infrastructure and Real Assets invests in a portfolio of infrastructure assets in Slovakia and the Czech Republic" (Press release). Macquarie Group. 17 October 2016. Retrieved 28 September 2026.
- ↑ "Křetínský prodá teplo Francouzům. Pražskou teplárenskou kupuje skupina Veolia". Forbes Česko (in Czech). MediaRey, SE. Czech News Agency. 7 September 2020. Retrieved 28 September 2026.
- 1 2 "Slovak gas pipeline operator's owner posts H1 earnings drop after gas flows halted". Reuters. 3 September 2025. Retrieved 28 September 2026.
- ↑ Annual Report 2024 (PDF) (Report). SPP-distribúcia. 2024. Retrieved 28 September 2026.
- ↑ "Eastern European Utilities' Regulatory Frameworks Are Varied, But Most Are Adequate To Strong". S&P Global Ratings. 18 September 2023. Retrieved 28 September 2026.
- ↑ "System Description and Map". Eustream. Retrieved 28 September 2026.
- ↑ Eustream, a.s. – Credit Opinion (PDF) (Report). Moody's Investors Service. 2 February 2023. Retrieved 28 September 2026.
- ↑ "EP Infrastructure, a.s. (EPIF) Announces Asset Transfer to EP Heat & Power a.s. (EP H&P)" (Press release). EP Infrastructure. 3 April 2025. Retrieved 28 September 2026.