Czech ministry and industry association assess possible support for businesses over high energy prices

The Ministry of Industry and Trade (MPO), in cooperation with the Confederation of Industry and Transport of the Czech Republic (SP), is assessing possible support for businesses due to high energy prices under the European Commission’s so-called Temporary Crisis Framework. David Hluštík from the MPO communications department told ČTK. The Temporary Crisis Framework makes it possible to use additional aid instruments related to the Russia-Ukraine conflict, noted Bohuslav Čížek, director of the SP’s economic policy section. The ministry did not comment on further support.

Russia launched its invasion of Ukraine on 24 February. The European Commission published the Temporary Crisis Framework at the end of March. Companies affected by sanctions against Russia and high energy prices can receive up to tens of millions of crowns through direct grants, tax and payment relief, or guarantees and loans. Whether and how member states use this option depends on their decision.

Support for additional costs resulting from higher gas and electricity prices may apply to the period from February to December this year. Only companies that demonstrate a monthly increase in energy costs of 200 percent compared with the same period last year will be eligible for grants. One company will be able to receive a maximum of two million euros (around CZK 50m).