ČEZ to raise electricity prices from next year

Czech energy giant ČEZ has announced that it will be raising its electricity prices at the beginning of next year. The reason for the increase is the rise in the wholesale prices of electricity, CEZ spokesman Roman Gazdík told the Czech News Agency on Wednesday.

The average price for one megawatt hour of energy will nearly double, from CZK 1,700 to CZK 3,120, excluding VAT. At the most common rates, customers can expect their costs to rise by a third. This is lower than the megawatt hour price partly due to the fact that regulated payments currently remain the same. The increase does not apply to customers who have a contractually fixed price.