Companies are demanding compensation for high electricity prices
- Vladimír Dohnal
- Aug 14, 2019
- 1 min read
Large industrial firms are demanding compensation for high electricity prices that have been growing recently amid a rising price for emission allowances. The government had already agreed to provide €40m this year and €80m annually starting in 2020, but the companies are demanding €200m annually. They also want the entire revenue from selling excessive emission quotas to be used for subsidies for their ’green’ projects. At present, about €58m annually goes towards the projects, but companies demand €150m annually. Further subsidies will emerge in 2021, via the so-called modernization fund. The fund will get revenues from the sale of emission quotas, up to €500m. The companies warn they will be forced to axe jobs if the economic slowdown in Western Europe and high power prices push them into the red. They are backed by the Economy Ministry, but the Finance Ministry is trying to limit the funding. Talks on the support continue.
(HN/1)
Recent Posts
See AllOKTE, the short-term power market operator, has recorded 51 hours of negative electricity prices this year, up from 36 hours during the...
The new tax on sugary drinks , in place since January, has raised the prices of carbonated sweetened beverages by 30-50% and syrups by...
Prelika Prešov (Lipták family) is closing after selling its spirits production to Old Herold and its mustard division to Tomata ....
Comments