76 companies will receive compensation for electricity prices

The highest contribution will go to U.S. Steel Košice.

U.S. Steel Košice workers have announced a strike alert, demanding a salary increase. U.S. Steel Košice workers have announced a strike alert, demanding a salary increase. (Source: TASR)

As many as 76 energy-intensive companies will receive financial compensation. A total of €40 million will be redistributed, the SITA newswire reported.

These companies are active in the iron and steel industry, the metallurgy of non-iron metals, cement production, the chemical industry, paper and wood pulp production, the wood industry, and recycling.

U.S. Steel will receive the most

Compensation totals depend on the real electricity consumption. The highest sum will go to U.S. Steel Košice, which will receive €12 million.

Other compensation will go to companies like Slovnaft, Mondi SCP Ružomberok, Železiarne Podbrezová, CRH Slovensko, Bekaert Slovakia, Považská cementáreň, Johns Manville Slovakia, Bekaert Hlohovec, and Metsa Tissue Slovakia.

“As for the electricity prices for households, Slovakia belongs among the cheapest EU countries,” said Economy Minister Peter Žiga (Smer), as quoted by SITA.

The situation is different in industry, though. Unlike Germany, the government refuses to require people to contribute to green electricity subsidies in their electricity bills, Žiga added.

“On the other hand, our industry appeared in the worse position compared to foreign competition,” the minister continued, as quoted by SITA. “Thus, we have passed the first compensation in Slovakia's history.”

He believes the compensations will help increase the competitiveness of companies since they will receive some of the money they contribute to support electricity generation from renewable resources.

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

U.S. government takes action against Kočner

The Magnitsky Act now applies to the man charged with the Kuciak murder.

Marian Kočner

A great past but not such a bright present

How come despite its tourism potential and an industrial park nearby, Kežmarok has an unemployment rate three times higher than Slovakia's average?

The town of Kežmarok, Slovakia

More than €1.4 million collected for people from building explosion in Prešov

The building will be gradually dismantled, one person from the 12th floor still missing.

Companies should not exist for profit alone

Martina Kolesárová describes how the business mindset of the 21st century goes beyond profit, perceiving social impact as a goal and also as a potential business opportunity.

Gib Bulloch speaking at 2019 BLF CSR Summit in Bratislava.