Energy group innogy has posted revenues totaling CZK 43.9bn in the Czech Republic for 2016. This represents a drop of 7 % on 2015. Its profits after taxes increased by 9 % to CZK 8.5bn. Its results were most affected by the colder weather in 2016. Financial director and board of directors deputy chairman Thomas Merker said that the drop in revenues was caused by a drop in natural gas prices. innogy Energie director Tomáš Varcop added that the number of gas customers totaled 1.4m. The company supplies electricity to 340,000 customers. innogy invested CZK 4.7bn, CZK 3.4bn of this total into the renewal of its gas grid.