Rise in Electricity Prices Predicted for Majority of Consumers in the Coming Year

According to analysts, most consumers will likely have to pay more for electricity in the coming year. The price trends will be highly individual. While most households should see increases by a few percentage points, businesses will be significantly affected by any further shift in market electricity prices. The increase could even be in the tens of percentages for large consumers.

The regulated portion of energy prices will significantly increase next year. Electricity, where the controlled part accounts for about 39 percent of the final cost, will increase by 65.7% yearly. For natural gas, where the regulated part represents 20 percent, it will be higher by 38.8 percent. However, the Energy Regulatory Office (ERÚ) believes that the increased held component will be offset by a drop in trade prices from suppliers.

Michal Macenauer, CEO of consulting firm EGÚ Brno, notes that the evolution of electricity costs will be very differentiated, mainly depending on the starting price of power electricity for the consumer in 2023. Most small consumers can expect a slight increase of a few percentage points. However, the situation will be more complicated for large consumers, as the power electricity price for large-scale consumption is a big unknown.

The burden of increasing regulated prices will hit every consumer differently. Radim Dohnal, analyst at Capitalinked, emphasizes that it will primarily depend on how the previously volatile price for power electricity changes for them, what distribution rate they have, what their consumption is, and in what distribution area they are located.

Jiří Tyleček, an analyst at XTB, points out that many consumers, thanks to state subsidies, may have gotten the impression that the increase in energy prices in connection with the energy crisis was not significant. He stressed that consumers who had energy prices fixed from the past at pre-crisis prices will now feel the price jump upwards.