Other suppliers follow suit as ČEZ announces price increase

The Czech power giant ČEZ announced on Wednesday that it would increase its electricity prices by around a third from next year. This has been followed by similar news from other suppliers, such as E.ON and Nano Energies, though PRE, which put its prices up earlier this year, will not introduce another hike, the Czech News Agency reported.

At the most common rates, ČEZ’s customers will pay an average of about a third more from the start of 2022, though this increase will not apply to those who have signed a fixed price contract.

ČEZ spokesman Roman Gazdík said the move, which had been previously flagged, was due to an increase in the wholesale price of electricity.

E.ON is also going to respond to these rising prices. Spokesman Roman Šperňák told the Czech News Agency that E.ON had last put gas prices on standard products up three years ago, in November 2018.

However, Mr. Šperňák said the current high wholesale prices would only be partially reflected in customer’s bills and only next year: the effects of current developments will definitely not affect them in full, he said.

Mr. Šperňák said the price per megawatt-hour of electricity including supply for next year has risen 2.5 times during 2021; for gas the increase has been three-fold.

Nano Energies, which is the only electricity company in the country drawing solely on renewable sources, will also its raise prices, a representative said.

By contrast, Pražská energetika (PRE) does not plan to raise prices from the New Year. It last increased its prices on the first of September this year; the jump was by 7 percent, which translates to CZK 70 per month for a regular Prague family.

This was its first price change in two years and while the company says it will not bring in further increases in January, it is monitoring the situation on the market, a spokesperson for PRE said.

The largest gas supplier in the Czech Republic, innogy Energie, will increase its prices from 20 November, with its basic Standard product going up by an average of 10.6 percent.

The monthly payment for an average family home will increase by about CZK 200, but for existing customers with fixed products prices will remain, innogy Energie said.