Prague Anticipates Energy Savings in the Millions

Following turbulent energy markets in the previous year, Prague, the capital city, expects significant savings in purchasing electricity and gas for 2024. The city estimates it could pay less than 700 million crowns, saving around 100 million crowns compared to the previous year’s expenditure.

Secure energy supplies for the entire year have already been arranged, as confirmed by Mayor Bohuslav Svoboda and the head of the city’s technological company, Tomáš Jílek. The price for the year 2024, encompassing over two hundred of its contributory organizations and public lighting, is set at 3514 crowns per MWh for electricity and 1534 crowns per MWh for gas.

Svoboda proudly acknowledged that these are the cheapest prices in the current market. According to Jílek, they are closer to the lower end of the current price level in Czech Republic. These prices are fixed for the entire year and will not be influenced by market changes.

Remarkably, compared to last year, savings of approximately 100 million crowns have been achieved, with Jílek suggesting that expenses could continue to decrease with further savings. Prague is estimated to consume about 135 GWh of electricity and more than 90 GWh of gas annually.

The city has commissioned city technologies to secure its energy for this year. Last year, Prague initially purchased electricity at spot prices in the first half of the year and then secured a new price in a competition in June. The energy savings were a silver lining in the turbulent year, with all stakeholders intensifying their efforts to save, leading to decreased electricity and gas consumption.