Czech government readying energy price caps for big firms, PM says

The Czech government is ready to introduce energy price caps for large firms by the end of the year as it expands help to businesses hit by soaring electricity and gas costs, Prime Minister Petr Fiala said. The help could be similar to measures already introduced for households and smaller businesses, Fiala told CNN Prima News late on Wednesday.

The Czech government is ready to introduce energy price caps for large firms by the end of the year as it expands help to businesses hit by soaring electricity and gas costs, Prime Minister Petr Fiala said. The help could be similar to measures already introduced for households and smaller businesses, Fiala told CNN Prima News late on Wednesday. He added European Union decisions have cleared the way to offering help to bigger firms.

"Today it is possible to realise (price) caps for large firms which had not been possible before," he told the broadcaster, according to CTK news agency. The government has sought to give support for larger firms, and new energy legislation allows it.

Price caps for households, public institutions and small companies have already been set at 6 crowns ($0.26) per kilowatt hour of electricity and 3 crowns for gas throughout 2023. Newspaper E15 reported on Thursday that caps for big firms could apply to 80% of their energy use. ($1 = 23.0880 Czech crowns)