Electricity in Czechland

Since the Russian invasion of Ukraine, prices have soared across Euroland.  

Looking at the cost of electricity in capital cities across Euroland, Prague comes in as having the 5th most expensive electricity at €0,41 per kilowatt-hour.  The top 4 are London, Copenhagen, Rome, and Amsterdam. 

However, when you account for purchasing power parity then Prague has the most expensive electricity in Europe.  Followed by Rome, Berlin, Dublin, and London.  One of the reasons for electricity being so expensive is that the Czech government taxes it at 24% while the average across Europe is 18%.

© https://www.energypriceindex.com/price-data

What's odd is that Czechland is one of Europe's biggest exporters of electricity.  This year, the country has exported more than 5 million megawatt-hours more than was consumed.  Only Sweden, Germany, France, and Spain have exported more electricity than Czechland.  I wasn't aware than in 2020, Czechland was the 9th-largest exporter of electricity in the world.

In order to cut the country's dependency on gas from Russia by one-third, the government and ČEZ, a Czech energy company, have secured storage capacity for LNG, liquefied natural gas, in the Netherlands.  Construction of the space is underway and it should be complete in September.  This is just for the storage space which should cost tens of millions of Czech Crowns per year.  The Czech government still needs to secure the LNG to be stored there.  

Here's a video I found on YouTube that talks about the high cost of energy right now in Europe, especially in neighbouring Germany.

©NBC

Я за Україну. Я за Україною. Слава Україні  Stojím za Ukrajinou!  I stand with Ukraine. 

Update: Here's an interesting Al Jazeera story I found on YouTube that talks about the high cost of electricity and its impact on the Czech glass industry.

©Al Jazeera