The Czech Republic wants to address the security of supply or investment when revising the electricity market

The Czech Republic wants to address the security of supply or investment when revising the electricity market


Electricity meter. Illustrative photo.

Prague – The Czech Republic wants to focus on several basic topics when reforming the EU electricity market. For example, the emphasis will be on ensuring the protection of households and industry against market fluctuations, security of supply or strengthening investments in the transformation of the energy sector. This was answered by David Hluštík from the Department of Communications of the Ministry of Industry and Trade (MPO) when asked by ČTK. The Czech Republic will probably not push for major changes.

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The European Commission is now preparing changes in the functioning of the electricity market. This is a reaction to the situation in the energy sector from last year, when the price of a megawatt-hour of electricity rose several times and at one point reached the threshold of one thousand euros. The EU member states should have submitted their proposals to the commission by today on what the market reform should look like.

The ministry submitted its position for the launch of the EU's public consultation on the revision of the electricity market last week. He listed several topics as essential in it. These include ensuring the balance of power at the national and European level, a stable legislative framework at both the national and European level, protecting households and industry from excessive volatility, i.e. fluctuations, of prices and at the same time ensuring affordable energy, strengthening investment signals to accelerate the transition to clean energy, security of supply and preparedness of the energy system in case of extraordinary events.

“It is important that we cannot look at the market revision only through the lens of last year, but it is necessary to look at the entire system comprehensively, to reflect the development in the field of energy transition, and monitor and respond to challenges in the world, so that the new market corresponds to it,” added Hluštík.

The wholesale price of electricity has fallen to 165 euros (about 3,900 CZK) per MWh in recent weeks. without VAT. For gas, it dropped below 65 euros (roughly 1545 CZK) per MWh. Last summer, the prices of both commodities were significantly above the limit set by the government.