The way to avoid the volatility of fossil fuels is to accelerate the transition to clean electricity, in particular wind and solar, so that the power price is set by fossil fuels for fewer hours. Wind and solar are not exposed to variable fuel prices and the cost of generating electricity from these sources has collapsed in recent years.
However, according to Czechia’s National Energy and Climate Plan (NECP) it does not intend to move away from fossil fuels any time soon. According to the document published in 2019, fossil fuels would contribute 47% of electricity production in 2030, the third-highest level in the EU. The ongoing coal exit process should result in an earlier end to coal than envisaged by this plan. However, if growth in clean power continues to stagnate, the country risks replacing one fossil fuel with another, missing the opportunity to enhance energy independence with homegrown renewables.