U.S. Steel halts arbitration against Slovakia

THE STEELMAKING giant U.S. Steel Global Holdings, the Netherlands-based parent company of the U.S. Steel Košice plant, has agreed to cease its pending arbitration dispute against Slovakia concerning the country’s introduction of fees on electric power even when produced and consumed by the company itself.

THE STEELMAKING giant U.S. Steel Global Holdings, the Netherlands-based parent company of the U.S. Steel Košice plant, has agreed to cease its pending arbitration dispute against Slovakia concerning the country’s introduction of fees on electric power even when produced and consumed by the company itself.

The fees allegedly violated the agreement on mutual protection of investments between Czechoslovakia and The Netherlands, and also impacted U.S. Steel Košice’s own power plant, which produces power to cover its own needs.

Now, U.S. Steel has halted the arbitration, a decision greatly influenced by the adoption of European Action Plan for Steel, which the European Commission (EC) pushed through and which allegedly discusses the need re-evaluate and resolve the issue of high energy costs in the EU.

U.S. Steel cited the “significant progress” made last year at both the EU and the national level regarding the strategic importance of the steel industry to the European and Slovak economies and the impact of high-energy processes on the competitiveness of the European steel industry as the reasons for deciding to end the arbitration. At the EU level this is mainly the Steel Action Plan, the EC plan for a competitive and sustainable steel industry in Europe. Slovakia has recently become the first EU member to adopt some of the measures proposed in the plan, U.S. Steel noted in a press release.

“We are encouraged by this progress and will continue to work in earnest with the Slovak and EU policy and decision makers to efficiently implement the actions called for in the Steel Action Plan to ensure a sustainable future for the steel industry in Slovakia and the EU,” U.S. Steel Košice spokesperson Ján Bača wrote.

Source: Press release

Compiled by Michaela Terenzani from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings.

Top stories

PM Eduard Heger

Non-vaccinated will not pay for tests for work, school or shops

Hundreds of people protested against the amendment that the parliament passed on Sunday morning.


22 h
Dancers perform in the streets of Trenčín, spotlighting the architecture of the city.

Slovakia will open a new institute, this time in Jerusalem

Culture, sports and travel stories rounded up in one place.


23. júl
The Office of the Public Defender of Rights flies the rainbow flag to mark the Bratislava Pride in 2021.

The pandemic has made it clear that we must stand together

International friends and partners of Slovakia celebrate Bratislava Pride.


24. júl

Bratislava Pride will take place online

It will be streamed on July 24 and accompanied by numerous music performances.


22. júl