Czech Business Today
Volume XX, 6-2022
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European political community meets for the first time in Prague
More than forty leaders gathered at Prague Castle in the Czech Republic, on Thursday, October 6, for the first meeting… continue reading »
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7 tasks for the Czech government presented by the Confederation of Industry of the Czech Republic
The 63rd year of the International Engineering Fair was held in Brno. "At this year's Assembly, we met with the… continue reading »
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Presidency as seen by the Confederation of Industry of the Czech Republic
The Confederation of Industry of the Czech Republic (hereinafter referred to as SP CR) is urging the Czech Presidency… continue reading »
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EESC: What happens to the electricity market design?
The energy crisis has a knock-on effect on the economy, driving up prices for businesses and reducing the amount of… continue reading »
Flash news
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Extension of government aid for increased energy costs
Under the temporary crisis framework, companies have the opportunity to receive support as a result of rising electricity and gas prices. Firms in all sectors of the economy are now eligible for support. Companies whose energy costs exceed 3% of the value of their turnover will also benefit. Sectors belonging to the category of customers with capped electricity and gas prices are not eligible for support. EGAP (Export Guarantee and Insurance Company) will also now provide guarantees for operating capital loans and investments.
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Joint purchasing of natural gas
The extraordinary EU energy ministerial meeting discussed the clear definition of legislative proposals on joint gas purchases and price capping. The Commission is expected to publish a proposal in the coming week. In addition to joint gas purchases, the proposal should also include an increase in transparency of the TTF price index, resistance to speculative behaviour, and solidarity between member states and increasing energy savings.
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The windfall tax
The revenue from this tax should be used to cover the extra costs of energy price capping. The windfall tax should represent 60 % and should be applied between 2023 and 2025, mainly to energy, oil and mining companies and banks, and in 2023 should raise 85 billion crowns.
