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The Czechia is experiencing an unprecedented inflation shock, with prices flying up the fastest in 13 years. For the first time in history, the price of electricity on the stock exchange exceeded 100 euros per megawatt hour. It has increased by an unprecedented 88 percent since the beginning of the year. The price will also be felt by end customers and, according to economists, heat and gas prices will also rise.
Prices in the Czech Republic are growing the fastest in the last 13 years. According to economists, a rough autumn awaits us. The August inflation rate of 4.1 percent is the sum of hysteria in construction and housing, rising prices of fuels, food, goods and services. Now, the turbulence in the energy market will add to that.
“We reached the price of 100 euros per megawatt-hour, which is a historical record. I would recommend that people fix current electricity prices for as long as possible,” said economist Štěpán Křeček.
The expert described how much households pay per year for electricity:
Mr. Ragín from Rudolfov, for example, is worried about the rise. Last season alone, he rolled over 80,000 crowns. The widower will take half of his pension in the upcoming heating season. “It would be around a hundred thousand now. That’s unbearable for me,” said Mr. Ragin.
Electricity will continue to rise in price, as the stock market record affects contracts concluded up to two years in advance. And heating plants will also become more expensive, due to the effects of green regulations. And tens of percent will make heating more expensive for people heating coal or wood. This, despite its surplus after the bark beetle calamity, we export to a large extent to Germany and China.
Due to the constantly rising price of electricity, the demand for solar panels is rising. Last year alone, companies installed over five thousand of them. Expensive electricity will also hit industry with a delay. This will be reflected in the price of practically everything that is produced. “The CNB will step on the brakes, raise interest rates,” Křeček added.
Hear how politicians would solve the problem of rising electricity prices:
Jan Houška TN.cz
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