Czech Households Pay the Highest Energy Prices in the EU

According to Eurostat, the statistical office of the European Union, Czech households still pay the most for energy in the EU. In the second half of last year, electricity and gas were the fourth most expensive in the entire Union.

The average price for electricity, including taxes and all fees, was €305.9 ($363.3) per megawatt-hour (MWh) in the Czech Republic, ranking us sixth in the EU. We were the seventh most expensive for gas, with an average price of €101 ($119) per MWh.

The Ministry of Industry and Trade has stated that the main reason for the high energy prices is the fall of Bohemia Energy in October 2021 and the large number of customers who fell into the “last resort supplier” regime and had to pay high spot prices.

However, all Bohemia Energy customers transferred to standard products with another supplier by mid-April last year, when the six-month protective period expired, which the law shortened to three months later. This should no longer have a significant impact in the second half of last year.

Nonetheless, the situation has not improved in the second half of 2022, and the data from Eurostat shows that it has even worsened. Regarding electricity, the average price has increased by around one-fifth, and the Czech Republic is now in fourth place with an average price of €384.4 ($455.1) per MWh. Only households in Denmark, Belgium, and Ireland have higher prices. The EU average is €284 ($336) per MWh.

Regarding gas prices, the Czech Republic is also in fourth place. The average price increased by about 47% compared to the first half of 2022, to €190.4 ($225.4) per MWh. Only Sweden, Denmark, and the Netherlands have higher prices. The EU average is €113.7 ($134.6) per MWh.

Electricity and gas prices are expected to remain high in the coming months, putting a strain on household budgets. According to analysts, the situation is not likely to improve until the supply of gas and electricity increases. Additionally, the high prices may incentivize consumers to explore alternative energy sources such as solar panels, wind turbines, or geothermal heating.

Czech households still pay the highest prices for energy in the EU. Although the fall of Bohemia Energy was the main reason for high prices in the first half of 2022, the situation has not improved in the year’s second half. Electricity and gas prices are expected to remain high in the coming months, but consumers may explore alternative energy sources to reduce their energy bills.