FORM 6-K
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                        Report of Foreign Private Issuer

                        Pursuant to Rule 13a-16 or 15d-16
                     of the Securities Exchange Act of 1934




For the month of   May, 2003
Commission File Number 333-7182-01

                                   CEZ, a. s.
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                 (Translation of registrant's name into English)
                                c/o Duhova 2/1444
                                 140 53 Prague 4
                                 Czech Republic

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                    (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.

                      Form 20-F  X       Form 40-F
                                ---                ---

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): ____

Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                       Yes                No  X
                           ---               ---

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-________
<PAGE>

The following information was filed by CEZ, a. s. in Czech language with the
Prague Stock Exchange as required by its rules and regulations:


Primary results of the general meeting of Severomoravska energetika, a. s., in
which CEZ,a.s., holds a majority share.
<PAGE>

                                   Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                                           CEZ, a. s.
                                                     ------------------------
                                                          (Registrant)

                                                     By: /s/ Libuse Latalova
                                                        ---------------------
                                                          Libuse Latalova
                                                  Head of Finance Administration
Date: May 6, 2003
<PAGE>
                    CEZ enforces its rights as a shareholder

        Primary results of the extraordinary General Meeting of SME a. s.

At  today's   extraordinary   General   Meeting   of  the  energy   corporation,
Severomoravska  energetika  a.s.,  the  company's  Supervisory  Board  has  been
re-shaped;  in its new  composition,  it supports and  promotes the  integrative
project, REAS.

Further,  the General Meeting has dealt with the issue of the company's business
ventures.

The General Meeting has  commissioned  the management board to revise a "concept
for the company's business ventures" so that it responds to the formation of the
new group and facilitates  cost-cutting on the group level. Overall, the General
Meeting steered a perfectly smooth course.

The  extraordinary  General Meeting was convened by the management  board of SME
upon the request of the  company's  new  majority  shareholder,  CEZ. The energy
corporation,   CEZ,  had  become  the  majority  shareholder  of  Severomoravska
energetika  a.s. based on a governmental  decree on April 1st of this year, when
it bought a 48.66% share in SME from the  [National  Property  Fund] FNM for CZK
6,198.19 million.  Together with the shares that had already been acquired,  the
corporation now holds 59.10% of SME.

The following persons have been appointed new supervisory board members:

Ing. Josef Sedlak

Ing. Josef Michut

Ing. Pavel Kolbl

The following persons have been recalled:

Ing. Jaroslav Kubovic

Ing. Miroslav Pise

Ing. Karel Korytar

In revising the concept of the company's business ventures,  we aim at utilizing
all the benefits brought about by the new group. In line with the development of
the  individual  distribution  companies in which CEZ, a.s.  acquired a majority
share, we expect the proposed  modifications  to also be based upon the findings
of the financial and legal audits performed within the group.

The CEZ group  ranks  among the largest  energy  corporations  in Europe and has
become the  strongest  player on the field of  electricity  business  in the CEE
countries. This fact brings about a number of advantages for both the group as a
whole, and its individual members. Among them, we may specifically point out the
following:

               o    enhanced competitiveness on the European energy market,

               o    strengthened   position  on  the  regional  markets  of  the
                    individual distributors,

               o    increased  bargaining  power in the  purchase  of goods  and
                    services,

               o    facilitated access to capital funds,

               o    brighter perspective as regards sustained consumer loyalty,

               o    safeguard against retail and wholesale market volatility.

CEZ is fully aware of the importance,  indeed necessity, to display transparency
in integrating the CEZ group, respecting the viewpoint of other co-owners of the
regional  energy  providers.  This is why the  firm has  spared  no  expense  in
preparing  and  implementing  a  project  called  "REAS",   which  represents  a
fundamental tool for streamlining the business model of the CEZ group.

With  regard to the scope and the  prominence  of the issue,  CEZ has decided to
address  renowned  consultants  with experience in both the Czech and the global
electric energy sector,  and ask them to fine-tune the  aforementioned  project.
The strategy of CEZ is to primarily involve individual employees at the regional
energy  providers  with the setup and the  performance  of the  project,  as the
project's  primary goal is to improve the  profitability of these group members.
By contrast,  the representatives of selected consulting companies and the staff
of the parent company, CEZ, are instead meant to play the role of coordinator.

The  implementation  of  "Project  REAS"  affects all areas of  management  that
display  a  potential  for  contributing  to the  group,  namely  the  areas  of
electricity sales, marketing, distribution of electricity, asset administration,
purchasing  of  goods  and  services,  IT,  organization  and  human  resources,
financial   departments,   such  as  planning  and  controlling,   communication
management,  and Corporate Culture; the initial phase of "Project REAS" may also
come to identify other such areas.

All areas of group  management  will ensure that  maximum  advantage is taken of
each and every chance to economize,  so that the long-term value  enhancement of
the CEZ group and its individual members is guaranteed.



May 6th, 2003