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Economy Ministry plans to change energy price regulation

The Slovak Economy Ministry is planning to modify elements of its energy price
regulation system next year, ministry spokesperson Branislav Zvara told the SITA newswire.

Economy Minister Ľubomír Jahnátek said there needs to be an objective model for calculating energy prices that is harmonised with calculations in surrounding countries, because they are located in the same economic area.

This year, the ministry drafted a revision to the Law on the Regulation of Network Industries. The parliament OK’d the draft amendment in February, despite criticism from opposition parties and energy companies.

The criticism was targeted mainly at the Economy Ministry's intervention into the process of setting energy prices, which was deemed to limit the independence of the market regulator.

The revision also says that as of March 1, 2008, the Regulatory Office for Network Industries (URSO) will define rules for wholesale electricity auctions based on the proposal of a power producer.

The Economy Ministry also added more detail to the Slovakia's Energy Security Strategy to 2030, and finished the Nuclear Energy Strategy. Experts are currently discussing both drafts and the government is to deal with them by the end of 2007.

-SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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