In response to the recent decline in electricity and gas prices on the energy market, major suppliers in the Czech Republic are adjusting their tariffs to reflect these changes. Beginning in mid-February, ČEZ, one of the country’s leading energy companies, will implement reductions in their fixed product costs by several hundred crowns per megawatt-hour (MWh). Similarly, innogy, another prominent supplier, has been gradually decreasing its prices. However, other providers are awaiting further price drops before making adjustments, as they had previously secured energy products at higher prices.

ČEZ’s General Director of Sales, Tomáš Kadlec, announced the company’s strategy to align their price lists with the decrease in wholesale energy prices, resulting in substantial discounts for customers. The reduction in fixed electricity and gas tariffs will be implemented gradually over the year, similar to last year’s approach. On average, ČEZ will decrease fixed product prices by 12 percent for electricity and gas.

For the most common D02d electricity tariff with a three-year fixation, customers can expect an average reduction of approximately 480 crowns per MWh. The first year of the three-year fixation will cost 3590 CZK per MWh, decreasing by 300 CZK in the second year and further to 2890 CZK per MWh in the third year. Gas prices will also see an average drop of 220 CZK per MWh.

Meanwhile, innogy is swiftly responding to market trends by revising its gas price lists monthly and implementing reductions of hundreds of crowns per MWh for new and existing customers since February. Additionally, the company is preparing an upcoming campaign to introduce attractive offers for customers switching to innogy for gas or electricity supply.

However, the Prague Energy Company (PRE) has indicated that it does not currently plan to adjust its price lists. According to spokesperson Karel Hanzelka, PRE had already reduced product prices for most customers since September of the previous year, and they have maintained these prices into the new year.

Article by Prague Forum