Prices of electricity and gas will drop this year

Regulation of energy prices is coming to the end.

(Source: Unsplash)

Slovaks should prepare for the gradual implementation of price deregulation, said Karol Galek, state secretary of the Economy Ministry.

Slovakia should implement the winter energy package of the EU into its own legislation this year. The deregulation should come with it, as promised in the programme statement of the government.

The prices of electricity and gas for households will decrease this year and companies can also look forward to cheaper energy costs.

Market development

The state secretary admitted that a drop in prices is not only thanks to the regulatory office and the artificial intervention of the state in price regulation.

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“Several parts of the end prices of energies will be lower next year,” Galek said, as quoted by the SITA newswire. He added that the development on the market has the biggest credit but the ministry also made several steps to provide transparent and just prices.

He mentioned the change of management at the regulatory office as one such step.

“We also managed to introduce open regulation into the law, the obligation to publish price proposals, including inputs and the course of price proceedings for all regulated monopoly entities," Galek concluded, as quoted by SITA.

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