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ZSEE commenced its operations on 1 July 2007 as a 100% subsidiary of ZSE. The Company trades and sells electricity and natural gas across Slovakia and focuses on providing long-term, reliable services at affordable prices in compliance with environmental protection and European Union regulations.
ZSEE enhanced its product portfolio for provision of complex energy customer solutions services such as smart-home, renewable energy solutions or value-added service packages.
ZSEE conducts activities in accordance with Energy Law and the permit to supply electricity issued by Regulatory Office for Network Industries (RONI).
Current assets of ZSEE are mainly represented by trade receivables and liabilities by trade payables, both related to supply and distribution of electricity and natural gas as well as provision of complex energy products and services for customers. Equity is mainly represented by share capital and legal reserve fund.
Main source of ZSEE revenues and EBITDA is the revenue from the supply and distribution of electricity and natural gas, and revenue from provision of complex energy services and products.
Electricity and gas distribution revenues are only pass-through, as the suppliers invoice the customers both for supply and distribution part of the price but the distribution part is then transferred to the electricity or gas distribution system operator (DSO).