ČEZ Cuts Fixed Electricity Rates, Innogy to Adjust Energy Prices in March

Energy giant ČEZ has reduced its fixed electricity rates starting February, offering contract-bound supplies at prices 28 percent lower than last year. The company’s move comes as a response to increasing customer interest in fixed-rate energy contracts, with other suppliers following suit in the price reduction trend.

Starting February, ČEZ is offering electricity with fixed rates until October next year at 3,134 Czech crowns per megawatt-hour (MWh). The company claims this is currently the most affordable publicly available energy supply product, representing a 28 percent decrease from last February’s two-year declining fixed rate – translating to savings of approximately 1,200 crowns per MWh for an average household.

According to Tomáš Kadlec, CEO of ČEZ Sales, customer interest in fixed products has risen significantly in recent months. “Nine out of ten clients choose fixed rates for gas, while fixed-term contracts account for nearly two-thirds of electricity agreements”.

In a parallel move, innogy will reduce electricity and gas prices by ten percent for 350,000 non-contract customers starting March. This reduction will result in substantial savings: an average family home can expect to save 3,300 crowns annually on gas heating, while an apartment will save around 1,700 crowns. Households using electricity for lighting and regular appliances will save approximately 1,200 crowns per year.

The energy market outlook appears promising, with forward prices for 2026 and 2027 showing a slight decline. Many customers are taking advantage of this trend by signing three-year contracts with annually decreasing rates. If purchase prices remain stable, energy providers expect to reduce prices for more than seventy percent of their customers this year.