Olterm & TD, which supplies nearly 29,000 flats in Olomouc and nearby Hlubočky with heat, will increase the price of heat energy by ten percent from 1 January. While this year its customers paid CZK 935.4 per gigajoule (GJ) of heat from central sources, next year it will be CZK 1,028.9. However, the increase in the price of heat will be lower than this year, when heat in Olomouc became 35 percent more expensive. This is according to the website of Olterm, which is owned by Veolia Energie ČR and the city of Olomouc.
“For 2024, we are increasing the price of heat energy by 10 percent. This is mainly due to the constant inflationary pressure on basic inputs, whether it is the prices of primary fuels and energy, which also include the cost of emission allowances or the cost of operation, repair and maintenance,” Olterm & TD commented.
Olterm&TD’s net profit fell 16 percent to CZK 18.84 million last year from CZK 22.47 million in the previous year. However, the heating firm’s revenue grew four per cent to ₹443.68 crore from ₹427.74 crore in 2021. The firm reduced its heat production by 11 per cent to 619,632.5 GJ in 2022 from 699,064 GJ in 2021, while its heat production grew 10 per cent the year before. Olterm&TD management did not comment on last year’s decline in heat production and profit. Domestic thermal power plants faced soaring natural gas prices in 2022 and households cut energy consumption due to high inflation.
In 2022, Olterm&TD operated 806 heat sources with a total capacity of 337,452 kW. Last year, the company connected seven new customer sites, mainly residential buildings, to the district heating network or local gas boiler plants in Olomouc and nearby Velká Bystřice. The heat will be supplied, for example, to flats in the Rezidence Okružní or Rezidence Green Wall development project in Olomouc. In the previous years, the Olterm & TD joint venture in Olomouc upgraded all the solid fuel boiler houses in operation to more environmentally friendly gas sources or connected them to the heat supply network. The ageing gas boilers were replaced by condensing gas technology.
Last year, the general meeting of Olterm & TD Olomouc approved an increase in the company’s share capital by CZK 127.9 million. The new securities of Olterm & TD were subscribed by its two shareholders, Veolia Energie ČR and Olomouc. By contributing 58 million worth of municipal infrastructure to Olterm & TD and increasing its share capital, the city’s stake increased from 34 percent to 49 percent. Veolia remained the majority shareholder with a 51 per cent stake.
Source: Olterm and CTK
