Study: Faster renewable energy development will cut electricity prices and boost Czech competitiveness

Greater development of renewable energy sources (RES) could reduce wholesale electricity prices and boost the Czech Republic’s competitiveness. It would also reduce dependence on electricity and gas imports and cut harmful emissions. With the development of flexibility, electricity can be readily absorbed, while gas-fired sources will cover demand during periods of low output. This follows from a new study by the Modern Energy Association and the Facts about Climate project. Its authors presented it at a press conference today.

However, according to the study’s authors, this requires faster permitting for construction, a sound environment for financing projects, sufficient flexibility and a sensible setup of the emissions allowance market.

The government approved the current plan for the development of the Czech energy sector, the National Energy and Climate Plan (NECP), in December 2024. The authors worked with four model scenarios in the study. They focused on the potential benefits of faster development of modern energy, as well as the risks associated with slower progress.