BUSINESS IN SHORT

Law to support domestic resources

THE RENEWABLE Energy Resources Act drafted by the Economy Ministry, stipulating, among other things, support for production of electricity from renewable sources and efficient combined production, was approved in parliament on October 22.

THE RENEWABLE Energy Resources Act drafted by the Economy Ministry, stipulating, among other things, support for production of electricity from renewable sources and efficient combined production, was approved in parliament on October 22.

The legislation stipulates financial support for energy resources with output exceeding 125 megawatts, with at least 30 percent of the input made up of renewable resources, as opposed to the current level of 20 percent. The act also allows the use of gases that are produced as secondary products in metallurgy for electricity production, the TASR newswire wrote.

This change should support domestic energy resources in order to reduce the country’s dependence on imported primary energy sources.

The opposition criticised the legislation as lacking transparency, claiming that it was tailor-made for U.S. Steel Košice, which had threatened to leave Slovakia. Christian-Democratic Movement (KDH) MP Alojz Přidal noted that the act will allow U.S. Steel to receive almost €15 million annually in the next 15 years.

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