Energy prices for Czech consumers could continue to fall, analysts expect

Energy prices for consumers could continue to fall in the coming weeks, according to analysts’ current expectations. Recent fluctuations on the wholesale market are unlikely to have a significant impact for now, as large suppliers in particular set prices based on long-term market trends, which have been favourable since the start of the year. This is according to comments from analysts for the Czech News Agency (ČTK). Suppliers in the Czech Republic began offering new tariffs below the government-set price caps at the start of the year, and some have introduced new offers again in recent weeks.

Current household electricity prices and the cheapest offers can be found in our electricity price comparison.

Competition among energy suppliers, which is driving prices down, should continue in the coming weeks, according to Jiří Gavor, an analyst at ENA and executive director of the Association of Independent Energy Suppliers (ANDE). This is despite the recent rise in wholesale gas prices. “Suppliers do not set prices for small customers based on immediate fluctuations in the short-term market. What matters is the long-term trend in the price of supply for next year, and that has been very favourable since the beginning of this year,” Gavor explained. He said that offers well below the government’s price cap are already available on the market, while many suppliers are still preparing more competitive offers.