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Electricity prices expected to fall

EXPERTS predict a moderate decrease in electricity prices as a consequence of a reduction in the so-called tariff for system services, the Hospodárske Noviny daily reported on March 26.

EXPERTS predict a moderate decrease in electricity prices as a consequence of a reduction in the so-called tariff for system services, the Hospodárske Noviny daily reported on March 26.

“The final price of electricity will decrease by only about 1 percent,” Andrej Fáber, the project manager at electricity distributor Energetické Centrum told the daily.

This means that an average family living in an apartment with an annual consumption of about 2,500 kW might save about €3 on its energy bills over the year. Those who use electricity for heating may experience a bigger drop.

The tariff for system services should decrease by about one fifth.

The country’s Regulatory Office for Network Industries (ÚRSO), led by Jozef Holjenčík, began the process of reducing electricity prices during the second half of March. The tariff should decrease because the Slovak Electricity Transmission System (SEPS), the grid operator, managed to save about €30 million last year.

The final price for household electricity consists of six components, with the price of the electricity itself and fees for its transmission and distribution accounting for the largest portions.

Customers pay for system services to SEPS; the fee includes the costs for maintenance of voltage and frequency within the electricity grid.

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