Share this on social media Czechs mull using EU presidency to call summit over energy prices (EurActiv, 25 Aug 2022) Czechia, which holds the European Union’s rotating presidency, is considering whether to call an emergency energy summit for the bloc to tackle soaring energy prices, including discussing price caps, a government minister said on Wednesday (24 August).
Bohemia Energy, one of the largest Czech alternative energy suppliers, ended supplies for customers on Wednesday citing the wholesale market's price spike, affecting 900,000 clients who need to be
Demand for brown coal — the cheapest and most energy inefficient form — used by Czech households jumped by almost 35% in the first nine months of 2022 over a year earlier. In the same period, production rose more than 20%, the first increase after an almost continuous, decadeslong decline, the Czech Industry and Trade Ministry said.
In another sign of coal's revival, the Czech Republic has reversed plans to completely halt mining near Ostrava to help safeguard power supplies amid the energy crunch. The state-owned OKD company will extend its mining activities in in the Ostrava region until at least the end of next year, citing “enormous” demand.
Higher energy prices have also helped fuel inflation on the continent and around the world. The Eurozone has been hit with 10% inflation, and the Czech Republic suffered from 18% inflation in
Inflation has reached a new peak but we expect it to rise further, mainly due to the announced energy price hikes for July and August. However, we believe that inflation near 20% year-on-year will not push the Czech National Bank (CNB) into raising rates in August. But further pressure on the koruna's depreciation could be a trigger.
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energy prices in czech republic
