Bohemia Energy, serving nearly 1mn customers, shuts due to soaring wholesale prices

Bohemia Energy, the largest group of alternative energy suppliers in the Czech Republic, announced on Wednesday it had shut down with immediate effect due to soaring European gas prices. The privately held business had some 900,000 customers.

In a statement, Bohemia Energy said it was “forced to take this drastic step” due to continued extreme growth of power prices in the wholesale market, where the price of electricity and natural gas is now three times higher than last year.

Bohemia Energy said clients would be served by suppliers of last resort, including the Czech Republic’s biggest electricity producer, the state-controlled power company ČEZ.

Prime Minister Andrej Babiš said his government has been dealing with the failure of Bohemia Energy and ensuring continued supplies to its customers since Tuesday. He called on the Energy Regulatory Office to consider capping prices on energy for suppliers who serve its customers.

Author: Brian Kenety