Some Czech energy suppliers raise gas prices as market reacts to Middle East crisis

Some energy suppliers in the Czech Republic have started raising gas prices in connection with the crisis in the Middle East, while others are waiting to see how the market develops.

Energy supplier Innogy increased prices for some fixed-rate products earlier this week and Pražská plynárenská and MND are preparing similar changes. The increases are expected to affect mainly new contracts with fixed prices.

European benchmark gas prices have risen by more than 50 percent since the conflict in the Middle East began at the end of February.