Czech government ready to cap electricity prices if costs rise further

Industry Minister Karel Havlíček says the Czech government is ready to cap electricity prices for producers and suppliers if energy prices rise further. Speaking on CNN Prima News on Sunday, he said the government would take the step if prices continued to rise, but did not specify the level that would trigger the measure.

The government is also preparing measures to limit fuel prices and plans to coordinate its response with other V4 countries. Havlíček said Czechia would act immediately if fuel prices became significantly higher than in neighbouring countries.

Electricity prices are rising as energy markets react to the worsening situation in the Middle East. Wholesale gas prices in Europe have also risen above 80 euros per megawatt-hour, their highest level since 2022.