Czechia

Czech Government to Cap Gas and Electricity Prices to Combat Soaring Costs

The Czech government in an emergency meeting on Monday approved measures to limit the price of electricity and gas for households, small and medium-sized enterprises and public institutions. This was announced to journalists by Prime Minister Petr Fiala. The price cap is being introduced to compensate consumers for the sharp rise in energy costs across Europe. The maximum price of 1 kilowatt-hour of electricity for households is limited to 6 koruna, gas prices will be limited to 3 koruna. The measures will affect households, small and medium-sized enterprises, hospitals, clinics, local authorities, schools, nursing homes and other public institutions of public importance. Czech authorities expect that curbing energy prices will lead to a hold on inflation in the republic, which stood at 17.2% year-on-year in August. In the coming years, the Cabinet of Ministers will closely monitor the situation on the energy market and periodically adjust prices, taking into account the interests of national consumers. The government is also discussing options to compensate large high-net-worth Czech companies and industrial enterprises for lost profits due to rising energy costs. This issue will be tabled at the next cabinet meeting on September 14. According to the prime minister, the measures announced by the government on September 9 to limit electricity and gas prices must be supported by the Czech parliament. Fiala...

by Prague Morning Sep 13, 2022
  • Most Popular

Tell more about your business

Tell us about your.

Tell us about your.

Tell us about your.

Tell us about your.

Tell us about your.

Thank You, It`s All Good

We will come back to you within 24 hours with our proporsal

Tell us about your.

Search