Energy, utilities and mining

 

PwC has been providing professional services to clients for over 100 years. Our global expertise along with extensive experience in energy, utilities and mining are unprecedented value and tradition of PwC. We have the pleasure of serving more than 70% of global mining companies.

 

 

We offer the following services:

  • Audit and accounting advice
  • Tax consulting
  • Business restructuring
  • Enterprise and business strategy management
  • Performance management
  • Due diligence for acquisitions
  • Cost optimisation
  • Tax optimisation
  • Acquisitions and refinancing
  • IPO assistance
  • Human resources management
  • Fraud risk evaluation and control processes review
  • Market entry and growth strategy
  • Access to structural funds utilisation

 

Energy

 

As a part of the EU harmonisation process, Czech Republic has successfully brought its energy sector standards in line with those of the EU. There is also an on-going debate regarding a decrease in the country’s dependence on solid fuels as a primary energy source. Energy Regulatory Authority, which began operating in 2001, is responsible for setting the distribution/ transmition part of the energy prices and for establishing framework for third party access to the electrical grid. Pressure to liberalise the sector and to split up vertically integrated companies has been apparent particularly in the case of power plants. Sustainable development discussions and geopolitical influences create pressure to increase the efficiency of energy processes. In relation to that, there has also been an effort to use alternative energy sources, which in the Czech Republic has had a tradition in the form of small hydropower plants. Together with solar and wind power and the use of biomass, these energy sources represent options for growth.


Industry-specific services
  • Valuation of commodity derivatives
  • Project financing and public private partnerships
  • Supply chain management
  • Quality & reliability of non-financial data
  • Enhancing the outcome and effectiveness of processes
  • Transactions and consolidations
  • Managing financial and political risks
  • Recruiting and retaining qualified staff
  • Preparing and implementing strategies for handling of emission limits, emission rights and certificates
  • Ensuring revenues from services and maximizing profitability
  • Tax compliance reviews
  • Regulation and legal compliance
  • Auditing financial statements prepared under Czech accounting
Industry Issues
  • Climate change and environmental protection
  • European Union Emissions Trading Scheme (EU – ETS)
  • Security of supply
  • Regulation and compliance
  • Alternative energy sources
  • Liberalisation of the market and commodity trade
  • Permanent sustainability of energy sources

 

Utilities

Utilities are complex, constantly changing systems. Companies dealing with logistics of commodities such as electricity, water, gas and heat need fast and efficient management. Its geographical position and inclusion in the EU energy framework make Czech Republic the most important transmission point in Central Europe. Distribution companies are faced with challenges of balancing the supply and demand as well as infrastructure restoration and development. In the future, companies must react quickly not only to macroeconomic indicators, but also to political and economic talks on distribution networks landscape in Europe.


Industry-specific services
  • Admissible costs and cost allocation
  • Quality & reliability of non-finacial data
  • Identification of internal processes and their outsourcing
  • Optimisation of key controlling processes, e.g. procurement
  • Assuring compliance with OECD Corporate Governance requirements
Industry Issues
  • Development and modernisation of transmission systems
  • Geopolitical influence on the energy sector stability
  • EU pressure on energy market liberalisation
  • International cooperation in forming of a united EU distribution network
  • Regulation

 

Mining

Mining companies in the past have been profiting from rising commodity prices. The economic downturn has brought a sharp drop in market capitalisation of a majority of the large mining companies and has forced the whole sector to radical cost-cutting. Current market conditions will test the companies’ ability to respond quickly to their costs, debt levels and investment efficiency. The sector as a whole has a good outlook and the current situation offers opportunities for new acquisitions and company consolidation.


Industry-specific services
  • Enhancing the outcome and effectiveness of processes
  • Transactions and consolidations
  • Managing financial risks
  • Recruiting and retaining qualified staff
  • Integrating steps for environmental protection and decelerating climate change into the overall business strategy
  • Preparing and implementing a carbon emissions trading strategy
  • Supply chain management
  • Tax compliance reviews
  • Regulation and legal compliance
  • Auditing financial statements prepared under Czech accounting
  • Quality & reliability of non-financial data
  • Emission permits valuation and handling
  • Support in raising EU and other public funds
Industry Issues
  • Permanent sustainability of energy sources
  • Compliance with legislative and reporting requirements of regulatory authorities
  • Supply security, price increases for utilities and services in the energy sector
  • Climate change and environmental protection
  • EU Emissions Trading Scheme
  • Research and application of new technologies
  • Cost control
  • Investment efficiency
  • Resource structure
  • Introduction of excise taxes on utilities
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Contacts

Tomáš Bašta
partner, Auditorské a poradenské služby
Tel: +420 251 152 087
Email

Jan Musil
Auditorské a poradenské služby
Tel: +420 251 157 160
Email

Václav Prýmek
partner, Auditorské a poradenské služby
Tel: +420 251 152 096
Email

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