An ordinary household in the Czech Republic will pay roughly 12,300 crowns per month for energy at the beginning of next year. This follows from a new forecast by the American bank Goldman Sachs, which estimates the amount based on the current price development of the relevant futures contracts.
Goldman Sachs calculates the amount for an ordinary household in the EU, i.e. also in the Czech Republic. Across the EU, at the beginning of next year, energy bills are expected to reach around 500 euros per month in the case of a typical household. Of course, the number should be taken as a guide. There are noticeable differences in the economic performance and purchasing power of the population between individual EU member states.
However, for example, electricity prices in the Czech Republic are among those within the EU that are significantly above average even in absolute terms, i.e. without taking into account the purchasing power parity of the currency. When compared to the application of currency purchasing power parity, Czech households have one of the highest electricity prices in the EU.
The European Commission is therefore now proposing a measure, as a result of which practically all power plants other than gas would have a part of their sales “confiscated”, or profit, that above the set critical limit or ceiling. Under this measure, the largest part of sales would be “confiscated” from wind and solar power plants, for example in Germany, which supports it. In a way, this is a massive subsidy of fossil fuels from the profits generated by renewable sources, or nuclear or hydropower plants.
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According to partial information leaked to the media, the mentioned critical limit, the ceiling, should be, for example, 200 euros per megawatt hour in the case of nuclear electricity. In the case of sales realized within the framework of immediate (spot) stock exchange trading, a day ahead, the amount exceeding the ceiling would be handed over to the relevant power plant as an “era”. They would therefore hand over the amount corresponding to the difference between the current market (stock exchange) price and the established ceiling. This should be intended for individual sources separately. Renewable sources would therefore have a different ceiling, nuclear power plants another and coal power plants another.
From the money obtained in this way, the “erár”, i.e. the governments of individual member countries, would pay for relief programs from expensive energy for households and companies, ideally, of course, mainly for the most vulnerable. That would help to dampen the adverse social impact of dramatically increased energy prices for households, year-on-year higher on average in the EU by around 200 percentwhich is forecast by Goldman Sachs in the above report for 2023.