ČEZ is also joining the new trend of making energy cheaper than the government ceiling. The largest domestic energy supplier on Thursday announced a new concept of price lists with a fixation for electricity and gas, where the price will decrease with each year as it reflects the expected decline in market prices, CEZ said in a press release. The offer applies to existing customers and new clients, even with an open-ended contract.
“In the case of a three-year fixation, a customer heating with gas will get up to CZK 1,500 (excluding VAT, ed.) per MWh, which is CZK 1,000 and 40 percent lower than the capped prices. A household living in a family house that heats with gas will save about CZK 10,000 per year compared to the ceiling,” said Tomáš Kadlec, General Director of ČEZ Prodej.
“For electricity, the savings compared to the ceiling will be up to CZK 700 per megawatt hour. Electricity prices are not going down as fast as gas prices, but we hope that it is only a matter of time,” Kadlec added about electricity.
Although the price of electricity and gas will gradually decrease for customers, in the first year, the price will be the same as the government’s ceiling, according to a table ČEZ attached in a press release.
ČEZ will post specific price lists on its website once it starts offering the products to customers, which will be in about 14 days, spokesman Roman Gazdík told Novosti.
ČEZ also said it would continue to update the price lists throughout this year if the decline in wholesale prices continues.
Kadlec added that the supplier has about 1.5 million regular customers with a fixed contract, and hundreds of thousands of them will soon see their contracts end.
ČEZ follows other large suppliers that have announced energy price cuts earlier. For example, Innogy and E.ON offer products with fixation below the government’s ceiling (already this year) to regular and new customers.