UPDATE 1-Czech 2008 power prices to rise nearly 10 pct-regulator

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Czech electricity prices will rise by nearly 10 percent on average next year, the energy market regulator (ERU) said on Monday.

ERU said prices would rise by 9.1 percent year-on-year on average due to electricity production and distribution price rise.

Environmental taxes, coming into effect next year, will raise the price by an additional 0.74 percent, calculated from the new 2008 prices, said the ERU.

This puts the overall average price rise at 9.9 percent.

The ERU announces annually distribution and other service fees, which make up for nearly half of the price of electricity.

Unregulated baseload electricity prices will rise 15.2 percent next year, while regulated charges will go up 1.7 percent year-on-year, said the regulator.

Czech state-controlled utility CEZ and Germany's E.ON are the two main suppliers of electricity in the European Union member. (Reporting by Marek Petrus; editing by Alan Crosby)

Keywords: CZECH ENERGY/

[PRAGUE/Reuters/Finance.cz]