ČEZ to raise electricity and gas prices for 1.6 million customers next year

Czech energy company ČEZ will raise electricity and gas prices for 1.6 million customers on open-ended contracts from January 2027. Electricity prices will increase by 3.5 percent, or roughly 330 crowns per megawatt-hour including VAT, while gas prices will rise by 6.5 percent, equivalent to around 180 crowns. The company attributes the increases to continuing tensions in the Middle East, saying wholesale electricity prices have risen about 75 percent since January and gas prices 140 percent. ČEZ says more customers are opting for two- or three-year fixed-rate contracts. Other major Czech energy suppliers have also increased prices this year.