Inertia Energy has today been granted a license from the Czech Energy Regulatory Office (ERO) under Section 7a of the Energy Act, to carry out business in the energy industry in the Czech Republic and across the European Union under a business authorisation for trade in electricity.
Following completion of an extensive application process, Inertia was granted a license with no. 141634258, which now enables the company to sell electricity in the Czech Republic, and a later stage, based on the recognition of such license in other EU member states, the ability to trade electricity across the various other markets which constitute the rapidly expanding and developing markets of Central & Eastern Europe (CEE).
The electricity industry department of the ERU is in charge of regulation of the electricity industry in the Czech Republic, whose legislated responsibilities include that of: price decisions, communication of important decisions and notices, ensuring regulatory reporting by license holders, statistics gathering, quality monitoring, developing methodologies for the sending of operational technical data and providing assistance to energy consumers when changing their electricity supplier.
As a licensed supplier of electricity, Inertia will now be obliged under Act No 458/2000 the (Energy Act) to periodically furnish the ERO with mandatory financial and technical data.
Christopher Millen, Non-Executive Chairman of Inertia said: “Achieving this essential milestone in Inertia’s business plan is the first step in a long climb and marks the birth of Inertia as a new entrant to Europe’s electricity markets. Inertia has been established as a challenger brand that intends to disrupt the status quo and make energy supply in the commercial real estate sector simpler, cheaper and more transparent.”
Mr. Christopher Millen - Non-Executive Chairman of Inertia Energy.
About Inertia Energy
Inertia is a privately owned, independent and regulated B2B reseller and producer of green credentialed energy in Central Europe, focused on commercial real estate. We believe it is an exciting time to be in the energy business, because there is a major change taking place that will affect all of us – the transition away from fossil fuels. That is why we not only supply green energy, but that we are also leveraging the latest technologies to gradually produce our own electricity from solar and hydro, ensuring minimal impact to the environment. We are also positioning ourselves to soon help our customers embrace the transition to electric vehicles via the implementation of a network of smart charging stations in the buildings which we supply our energy to. We believe that reducing our reliance on fossil fuels is critical in ensuring a bright future for generations to come.
This media release is intended solely for information purposes and is expressly not addressed to any person who by domicile or nationality is prohibited to receive such information according to the applicable law. The information and views contained in it do not constitute a request, offer or recommendation to buy or sell electricity, to use any related services, to buy or sell any investment instruments in the company or to conduct any other transactions. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved whether in general as it relates to the renewable energy industry as a whole or specifically in relation to our company’s objectives.