EC approves Czech scheme to support businesses facing high energy costs

The European Commission has approved an 800 million euro scheme for Czechia to support businesses facing increased energy costs due to Russia's war in Ukraine. Large businesses from all sectors will be eligible to receive the financial support, which will be provided until December 31, 2023 and will take the form of direct grants.

Beneficiaries will be entitled to the support as soon as the market prices of natural gas and electricity exceed the maximum prices set in the scheme, i.e. approximately EUR 210/MWh for natural gas and EUR 105/MWh for electricity.