CEZ to cut prices of fixed energy products from mid-September

Prague, Sept 1 (CTK) - Energy group CEZ will discount fixed energy prices from mid-September, with prices of one-year electricity products to be more than 20 percent lower than the government's ceiling and one-year fixed gas rates to be 25 percent below the price caps, company CEZ Prodej said today.

CEZ will also reduce prices of two- and three-year products.

The offer applies to all customers, except those with currently valid fixed rates, said the company.

CEZ currently registers over one million electricity and 300,000 gas clients who pay the fixed price. In total, it has 2.7 million customers who are supplied electricity and about 600,000 use gas.

Other suppliers in the Czech Republic are also gradually reducing their energy prices.

The Czech government has set the price caps for this year at Kc5,000 per megawatt hour (MWh) of electricity excluding VAT and at Kc2,500 per MWh of gas.

From mid-September, CEZ will introduce a new annual online tariff for electricity of Kc3,940 per MWh excluding VAT, and for gas the price will be Kc1,850 per MWh excluding VAT.

The company has not yet announced adjustments to prices of multi-year products. It plans to publish the new price lists on September 15.

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