PM: EU Electricity Market Not Working, EC's Failed to Present Concrete Measures

Bratislava, 18 March (TASR) - The electricity market in the EU doesn't work, as its prices are high and there are significant price disparities between regions, but the European Commission hasn't put forward any specific proposals for the upcoming meeting of the European Council to address the issue of high electricity prices, said Premier Robert Fico (Smer-SD) at a session of the parliamentary European affairs committee on Wednesday. "It's a big disappointment. The Commission hasn't presented anything at all. It's repeatedly promised to come up with concrete measures to reduce electricity prices. The only thing that it recommends to countries with such a great deal of audacity is to reduce their taxes on electricity," stated Fico. The premier stressed that Slovakia produces more than 80 percent of its electricity from zero-emission sources, has stopped using coal for electricity generation, has interconnections with all neighbouring countries, and is a net exporter of electricity. Despite this, electricity prices for Slovakia are above €100 per megawatt-hour (MWh), while in France or Spain they are roughly half that level. "What was the point of all this if there are such huge disparities today? The electricity market isn't working," said Fico. The premier spoke about an initiative by several countries that are demanding that the free allowance system should continue after 2034. At the same time, he wants to support a proposal by Czech Premier Andrej Babis, who is talking about capping the price of emission allowances. "We, in turn, have a proposal that the Czechs will support - a four- or five-year 'holiday' from using the ETS system," stated the premier. However, he doesn't expect agreement on any of these solutions. "I think that we are a victim of Ursula von der Leyen's political support in the European Parliament. She knows that if she goes against the Green Deal, she'll lose support in the European Parliament," added Fico. ko/df