BUSINESS IN SHORT

Electricity prices to fall

END PRICES for electricity will fall by 3 percent for all consumers in Slovakia following a decision made by the Regulatory Office for Network Industries (ÚRSO) on April 15. The decision will take effect on the date it is delivery to individual regulated entities.

END PRICES for electricity will fall by 3 percent for all consumers in Slovakia following a decision made by the Regulatory Office for Network Industries (ÚRSO) on April 15. The decision will take effect on the date it is delivery to individual regulated entities.

“I believe that this reduction in the price of electricity will not be the last this year,” said ÚRSO chairman Jozef Holjenčík, as quoted by the TASR newswire.

ÚRSO focused on a reduction in the 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 therein,” Holjenčík said.

The state is making electric power cheaper for the second time this year. After a 3.3 percent decrease at the beginning of 2013, prices should fall again by 3 percent. This means about €3.80 per megawatt hour, for both households and companies. Households will hardly feel the difference; most of them will pay about €10 less annually, the Sme daily wrote.

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