Czech energy provider Innogy to raise prices for customers in January

Energy supplier innogy will increase electricity and gas prices from Jan. 1, 2027, for customers on open-ended contracts without fixed prices, joining other Czech suppliers in passing on higher wholesale costs.

The changes will affect both existing and new customers on those products. Innogy said they represent a minority of its 1.7 million customers, most of whom have fixed prices, but did not disclose how many households will face the increases.

The announcement follows a similar move by ČEZ and comes after three consecutive calendar years of price reductions at innogy.

Innogy’s electricity supply price will rise by CZK 150 per megawatt-hour, excluding VAT, to CZK 3,650 per MWh.

Its household gas supply price will increase to CZK 1,674 per MWh before VAT. The company put the gas increase at CZK 334 per MWh including VAT.

These are supply prices rather than the complete amount customers pay on their energy bills, which also include regulated charges and taxes.

The new rates appear in the company’s published price lists and were subsequently confirmed to ČTK.

Innogy attributed the increases to sharply higher wholesale energy prices since spring, linked to the continuing crisis in the Middle East.

“Natural gas has more than doubled in price, and electricity has risen by almost 80 percent,” the company said of wholesale market developments.

Karel Kincl, innogy’s household sales director, said the new prices would nevertheless remain below those charged in 2024 and substantially below 2023 levels.

He also said customers could obtain lower prices through fixed-rate products, for which the company purchases energy differently.

ČEZ recently announced increases from January for customers on open-ended contracts. For the common D02d electricity tariff, its supply price will rise by 3.5 percent to CZK 3,462 per MWh excluding VAT.

Its household gas supply price without a fixed rate will reach CZK 1,438 per MWh before VAT.

Other suppliers, including E.ON, Pražská energetika, MND, Pražská plynárenská and Centropol, have raised prices on fixed-rate products offered during this year, in some cases repeatedly. Innogy and ČEZ have also increased prices on some fixed-rate offers.

Wholesale gas prices have climbed amid the Middle East conflict and associated restrictions on gas supplies. Gas is currently trading at around EUR 90 per MWh, compared with roughly EUR 30 at the start of the year.

In late October, it briefly reached EUR 100 per MWh for the first time since December 2022.

For innogy customers, the key distinction is their contract: January’s announced increases concern products without fixed prices.