Czech electricity and gas prices will keep falling as crisis slowly ends, experts agree

The energy crisis, which began last summer with a rapid surge in electricity and gas prices, is slowly coming to an end, and prices for both commodities will continue to fall gradually. Economists and energy experts agreed on this at the 18th annual conference on expected developments in the energy sector in Czechia and worldwide, held in Brno today.

Moderate optimism prevailed among the speakers. At the same time, they warned that a similar crisis could happen again.

According to them, the crisis was not caused solely by the start of the war in Ukraine and fears of a gas shortage in Europe, as Svatopluk Vnouček, vice-chairman of the board of ČEPS, pointed out. „Another factor was the worst drought in Europe in 50 years, which reduced energy production at hydropower plants, and low capacity at nuclear power plants in France,“ Vnouček said. He also warned that, alongside the shift away from coal, Czechia needs to strengthen its energy self-sufficiency.