Swiss MET Group enters Czech energy market with bold plans for expansion
Swiss energy company MET Group has officially entered the Czech energy market by establishing a local subsidiary, marking its 17th country of operation. Renowned for its robust presence in the gas sector, including LNG capacities, and active electricity trading, MET Group aims to become a key player in the Czech Republic’s energy landscape.
Initially, MET Czech Republic will focus on wholesale services tailored to energy-intensive companies and industrial plants. Over time, it plans to expand its offerings to smaller customers and households. At a press conference, company representatives emphasized MET’s commitment to enhancing supply security, stability, and supporting the country’s energy transition.
Headquartered in Switzerland and managed by its leadership team, MET Group operates across 30 national gas markets and employs over 1,000 people. In 2023, the company reported consolidated sales of €24.5 billion, trading 88 billion cubic meters of gas and 68 terawatt hours of electricity. With new long-term LNG contracts from the United States, along with resources from Africa and Asia, MET is well-positioned to serve its new market.
MET Czech Republic has already secured the necessary licenses for electricity and gas trading, allowing it to immediately engage with potential customers. According to Pavel Balada, CEO of MET Czech Republic, the company will initially prioritize large industrial clients, a segment left underserved after the energy crisis led to the exit of several suppliers.
“We enter the Czech market as a full-fledged partner. Our goal is to bring security of supply, stability, and support the country in its energy transition. As part of the MET Group, we are a reliable partner for our customers,” Balada said.
In its early years, the Czech subsidiary will employ dozens of professionals, with ambitions to expand its workforce as operations grow. Looking ahead, MET aims to diversify into cogeneration and renewable energy projects. Although MET has previously supplied LNG gas to a Czech client, the company did not disclose specific details.
This entry marks a significant step in MET Group’s broader strategy to strengthen its presence in European markets and underscores its commitment to delivering innovative and reliable energy solutions to the Czech Republic.