New legislation
Since October, an amendment to the Energy Act has been in force, which allows consumers to terminate their contract with an electricity or gas supplier if it does not provide at least 70% of their expected consumption. The change also applies to fixed-price contracts and is intended to increase consumer protection against risky traders.
Suppliers are now obliged to publish twice a year – always at the end of March and September – the so-called security of supply index, i.e. an indication of how much energy they have purchased in advance. If a supplier fails to meet the legal minimum of 70% or publish the index, the customer can terminate the contract. “The hedging index gives consumers a double advantage – it helps them to better evaluate offers on the market and it gives them the opportunity to terminate the contract if the supplier fails to secure its obligations,” said ERO Council member Markéta Zemanová.
The new regulation responds to the collapse of Bohemia Energy in 2021, when thousands of households paid the price for the supplier’s failure to secure energy upfront. A model notice is available on the ERO website, with the notice period ending on the last day of the month following the delivery of the notice.
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