Country's largest alternative energy supplier quits Slovak market

The company's current customers do not have to worry about being left without energy.

Illustrative stock photoIllustrative stock photo (Source: Sme)

The country's largest alternative energy supplier, Slovakia Energy, has asked the Regulatory Office for Network Industries (ÚRSO) to revoke its licenses to trade in electricity and natural gas.

Slovakia Energy also requested that its activities on the Slovak energy market be terminated as soon as possible, the SITA newswire reported.

Growing prices

Behind this step is the current situation caused by the unbearable growth in energy prices on wholesale markets in connection to the state's regulation of pricing.

ÚRSO will decide on the request within 30 days.

Electricity may become 15 percent more expensive for households Read more 

The pressure to switch to emission-free energy sources, emission allowances, a long winter, and the expected increase in consumption for the development of electromobility are pushing energy prices steeply upwards in
wholesale markets, said spokesperson of Bohemia Energy Hana Novotná.

These are also the reasons why the largest independent supplier in Slovakia has decided to curtail its activities.

Customers won't be left without energy

However, the company's current customers do not have to worry about being left without energy. They can automatically terminate their contract with Slovakia Energy and switch to the supplier of their choice without breaching the existing contracts, Novotná explained.

Alternatively, up to three months from the termination of Slovakia
Energy's activities, a so-called last resort supplier will take care customers - the law ensures them this right.

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