Czech Republic Faces Highest Household Gas Price Increase in the EU

The gas price for households in the Czech Republic increased the most year-on-year in the second half of last year compared to all countries in the European Union. The increase was 231%, while in Slovakia, for example, it was 18% and the second lowest in the Union. The European statistical office Eurostat reported this in its report on Wednesday. If the price is expressed in euros, households in Hungary had the cheapest gas.

Only Croatia (+14%) had a lower increase in gas prices than Slovakia. According to Eurostat, Romania (+165%) was second-worst behind the Czech Republic in the statistics, with Latvia (+157%) third.

In the case of electricity, the price increase between the second halves of 2021 and 2022 was also among the highest in the Union. The year-on-year increase reached 97% and was the second-highest in the EU, with only households in Romania (+112%) faring worse. The third-largest increase was recorded in Denmark (+70%).

In contrast, electricity was the least expensive in Luxembourg, where the increase was only 3%. In the Netherlands (-7%) and Malta (-3%), electricity decreased in price compared to the second half of 2021.

The average gas prices for households in the second half of last year were the lowest in Hungary (€3.5 per 100 kilowatt-hours), Croatia (€4.5 per 100 kWh), and Slovakia (€4.9 per 100 kWh) when expressed in euros. They were the highest in Sweden (€27.5 per 100 kWh) and Denmark (€20.8 per 100 kWh).

The high energy prices in the Czech Republic last weekend, referring to Eurostat’s data. According to the data, the average prices for electricity and gas were the fourth-highest in the EU in the second half of last year.

The largest domestic energy supplier, ČEZ, disputed Eurostat’s prices for electricity, stating that its customers paid lower prices than in the first half because the government’s savings tariff positively affected payments. ČEZ has a dominant 43% share in the Czech electricity market.

Other suppliers, such as E.ON, made similar statements. E.ON customers paid 32% less for electricity on average in the first half of 2022 than in the second half of 2021. However, the company still faced criticism from Czech politicians, who called for a reduction in energy prices, including taxes and fees, to ease the burden on consumers.