P0295 Skoda 120 shows up when there's an electrical problem that causes the fuel volume regulator to malfunction and open. It's quite an unusual problem and likely intermittent. Other serious codes may cause this code to pop up, and they may come with dangerous drivability issues that may expose you to safety risks and cause damage to the engine in the long run.
Possible Causes :
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Pack the connector cavity with dielectric silicone compound (same stuff they use for light bulb sockets and spark plug wires) and reassemble. If the engine displays a miss and there wasn't a code, determine which cylinder is misfiring. If the exhaust manifold is visible, spay or pour a small amount of water on each cylinder exhaust port. Water will evaporate immediately on good cylinders and slowly on the missing cylinder. If this can't be accomplished pull the plugs and check the condition. Look for damage to the tank indicating impact that may have damaged the fuel pump or sender.
Diagnostic trouble code P0295 Skoda 120 is not difficult to diagnose and repair. Thus, it always pays to have a qualified technician to look after your vehicle should this error code arise.
Diagnosing this code requires the engine to be in good running shape, without unmetered air entering the engine. If other codes that relates to misfiring condition, lean running or air entering the engine is present, then you must first fix those error codes before P0295 Skoda 120.
Fortunately, P0295 Skoda 120 is a fairly common OBD code, meaning that it applies to all makes and models of vehicles made after 1996.