Regulated electricity prices for households are going up

The regulator argues the higher prices of European carbon allowances

Power plant Elektárne Nováky (ENO)Power plant Elektárne Nováky (ENO) (Source: TASR)

The electricity prices for households are going up. While opposition deputy Karol Galek sees the increased subsidy for electricity production from low-quality brown coal behind the hike, the regulator argues with the higher prices of European carbon allowances (EUAs).

An ordinary household in Slovakia will pay seven to eight cents on average for electricity per month, said Radoslav Igaz, spokesperson of the Regulatory Authority for Network Industries (ÚRSO) in response to Galek’s motion, adding that ÚRSO has only strictly followed the valid legislation.

ÚRSO has approved an increase in one of the components of the electricity price – the so-called tariff for the operation of the system. It increased the tariff from €26.2011 for MWh to €26.988 for MWh.

“The regulator has done so only because of the increase in prices of European carbon allowances on the world market, which, compared to the previous year increased more than four times,” said Igaz as cited by the TASR newswire, adding that it had to accept this as a significant change in economic parameters for the regulated company, dominant electricity producer Slovenské Elektrárne.

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The MP for the Freedom and Solidarity (SaS) party reported on Wednesday, September 12, that he is filing a motion with the General Prosecution’s Office to investigate the increase in electricity prices. Behind the increase of the tariff Galek sees a hike in the annual subsidy for electricity production from low-quality brown coal in the Novaký coal-fired power plant from €98 million to €115 million. In his opinion it will be households, who will cover this increase.

Households should prepare for another increase in electricity prices as of next year due to higher prices of electricity as a commodity.

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