Czech government sets power price caps

In the face of soaring power prices, the Czech government has set caps on electricity and gas prices for small consumers. The new prices will apply in deposit payments from November. Electricity will cost a maximum of CZK 6 per kWh while in the case of gas it will be CZK 3 per kWh. The state has earmarked CZK 130 billion to cover the scheme.

Opposition leaders say the move comes too late and that power prices will still be too high.

The government is due to announce its price cap system for businesses on Wednesday.