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Regulatory body reduces cost of electricity by 3 percent

End prices of electricity will fall by 3 percent for all consumers in Slovakia following a related decision made by the Office for the Regulation of Network Industries (ÚRSO) on Monday, April 15. The decision will take effect on the date of delivery to individual regulated entities. "I believe that this reduction in the price of electricity won't be the last this year," said ÚRSO chairman Jozef Holjenčík as quoted by the TASR newswire. ÚRSO focused on a reduction in the so-called tariff for operating the system, which includes costs related to production of electricity from renewable energy sources and domestic coal, among other things.

End prices of electricity will fall by 3 percent for all consumers in Slovakia following a related decision made by the Office for the Regulation of Network Industries (ÚRSO) on Monday, April 15. The decision will take effect on the date of delivery to individual regulated entities.

"I believe that this reduction in the price of electricity won't be the last this year," said ÚRSO chairman Jozef Holjenčík as quoted by the TASR newswire. ÚRSO focused on a reduction in the so-called tariff for operating the system, which includes costs related to production of electricity from renewable energy sources and domestic coal, among other things.

"The steep rise of this tariff in 2010-12, which also had a significant effect on the end prices of electricity, was mainly due to renewable energy sources, especially photovoltaics and the investments entailed," said Holjenčík.

The state is making electric power cheaper for the second time this year, the Sme daily wrote, after a 3.3 percent decrease at the beginning of 2013, prices should fall again by 3 percent. This means about €3.8 per 1 Megawatt-hour, both for households and companies. Households will hardly feel the difference; most of them will pay about €10 less annually, Sme wrote.

(Source: TASR, Sme)
Compiled by Zuzana Vilikovská from press reports
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