Spectator on facebook

Spectator on facebook

US Steel takes Slovak state to arbitration court over fees

A shareholder of the Košice-based steelworks US Steel is claiming damage compensation from the Slovak state amounting to almost €260 million, suing for the fees it has to pay for the production and distribution of its own electric power to the administrator of transmission network.

A shareholder of the Košice-based steelworks US Steel is claiming damage compensation from the Slovak state amounting to almost €260 million, suing for the fees it has to pay for the production and distribution of its own electric power to the administrator of transmission network.

The potential liability is mentioned by the government in the next year’s budget proposal, the daily Sme writes in its September 6 issue. The disputed fees were set in 2007 by the head of the Regulatory Office for Network Industries (ÚRSO) Jozef Holjenčík.

Arbitration is already underway. In the spring, the government acknowledged compensation to the steelworks in a similar issue, amounting to €15 million annually. The government memorandum will in no way influence the ongoing arbitration, company spokesman Ján Bača told Sme.

US Steel Košice was established when the US Steel Corporation took control of the former Východoslovenské Železiarne (VSŽ) steelworks in June 2000. It is now one of the biggest producers of flat rolled steel in Europe, which it supplies mostly to the automotive, engineering and electro-technical industries. The steelworks currently employ about 10,600 people.

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

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

How rock music helped bring down the totalitarian regime Video

A new film shows that Rock & Roll, forbidden in the Soviet Union, helped to end the Cold War.

Illustrative Stock Photo

Movies under an open sky feel differently than in an air-conditioned cinema Photo

The popularity of outdoor cinemas is increasing in Bratislava

Bažant Kinematograf on the Magio Pláž beach

Peter Sagan announces split with his wife Katarína

The Slovak cycling star who has a young son said “It will be much better this way”.

Peter Sagan marries Katarína, November 2015.

Top 3 news from Last Week in Slovakia Video

Slovakia to buy 14 American fighter jets.

This archive picture from 2014 shows an older model of the F-16 fighter jets.