State-owned energy supplier SPP is deforming the market
The state-owned energy supplier SPP is deforming the market with its high losses, which also worsen Slovakia’s public finances. Last year, SPP reported a €41m loss in the segment of energy supplies; thanks to dividends from gas pipeline operator eustream and local gas distributor SPP-distribúcia, its overall result was a €319m net profit. The remaining dozens of energy suppliers can’t afford such huge losses, as they would go belly up. SPP says the loss is the result of it providing security for the entire market, paying for gas storage in much higher volumes than it needs.