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Industry & Trade Minister Says Gas Prices Will Continue To Fall

CZECHIA

The Ministry of Industry and Trade assumes that the prices of natural gas and electricity will continue to fall across Europe, its chief Josef Sikela told Seznam Zpravy, pointing to increased energy savings, ample natural gas reservoirs and favourable weather conditions.

  • According to the Ministry's calculations, the cost of compensation for suppliers under Czechia's gas & electricity price-ceiling scheme should not exceed CZK200bn, albeit the Energy Regulatory Office's (ERO) estimate is considerably higher (CZK240bn).
  • Sikiela suggested that the discrepancy stems from the fact that ERO based its estimate on a survey of suppliers, which might be backward-looking in nature.
  • The minister argued that the spot market is "nothing more than a stock market game," which is why the government banned suppliers from offering spot tariffs.
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