Czech Republic & Central Europe — 2026-03-20
Czech Gas Prices Surge 35% as Iran War Disrupts European Energy Markets; Babiš Pushes EU ETS Suspension
European gas prices have surged 35% to approximately 1,700 CZK/MWh following Israeli strikes on Iranian gas fields and Tehran's retaliatory attacks on Gulf energy infrastructure. PM Babiš backed Italy's proposal at the EU summit to suspend the EU Emissions Trading System (ETS 1) covering energy, heavy industry, and aviation. The energy price spike compounds Czech cost-of-living pressures and gives Babiš political ammunition against EU climate policy.