The Czech government is prepared to cap electricity prices for producers and suppliers if market rates continue to climb, Minister of Industry and Trade Karel Havlicek said on CNN Prima News. Havlicek added that Prague would coordinate potential interventions on retail transport fuel prices alongside partners in the Visegrad Group.
Wholesale gas cross threshold
European energy prices are rising due to worsening developments in the Middle East. Wholesale European natural gas prices exceeded 80 EUR/MWh at the end of the week for the first time since 2022. Havlicek affirmed that authorities would act directly if power markets failed to stabilise.
“If electricity prices were to escalate further, we are prepared to cap its prices for producers and traders,” Havlicek said. He confirmed regional talks on pump prices. “We agreed that we will exchange information on further developments. If someone regulates, we will do it too,” he stated.
Fuel costs climb steeply
Domestic retail fuel prices tracked European benchmarks higher over the past week, according to data from CCS. Natural 95 petrol rose 1.88 CZK/liter to reach an average price of 44.22 CZK/liter. Diesel climbed 1.9 CZK/liter over the past week.
Diesel hit 47.79 CZK/liter on Wednesday. Prime Minister Andrej Babis addressed the price pressure facing motorists. “At this moment we do not have the possibility to fundamentally influence this,” Babis said.
Babis called for limiting the validity of the ETS 1 and ETS 2 emissions allowance systems for refineries, seeking regulatory relief as rising crude and gas costs push regional refiners and utilities to pass cost burdens through to consumers.
Source: The Czech government
