Sakova: We Need Stable Supplies and Affordable Energy Prices

Bratislava/Nicosia, 14 May (TASR) - Slovakia has long been drawing attention to and emphasizing the need for stable energy supplies and affordable prices for households and industry, especially at a time of geopolitical uncertainty directly affecting commodity prices on energy markets, Economy Minister Denisa Sakova (Voice-SD) underlined at an informal meeting of ministers responsible for energy held in Nicosia, Cyprus, on Wednesday (May 13). TASR learnt the news from Economy Ministry's spokesperson Maria Pavlusik on Thursday. The most important issue discussed at the meeting were the European Union's energy security, the AccelerateEU initiative and the development of electricity storage. Sakova highlighted the need for a fair approach towards all member states, particularly those facing the greatest consequences of geopolitical and energy crises. She also accentuated the need for fair support for the sectors most heavily affected. "We support joint European solutions. The solution currently proposed by the European Commission, which aims to reduce energy prices in the short term through lower VAT or excise duties, cannot be implemented in Slovakia or in other member states due to the limited capacities of national budgets," Sakova said after the talks. According to the minister, it is therefore necessary to be more ambitious and demand systemic changes to the functioning of the energy market. "We must reassess the emissions trading system and change the electricity pricing formula so that it is not directly linked to gas prices," Sakova added. In her view, an important proposal being prepared by the European Commission is the so-called Investment Booster. "Within this framework, we expect a fair approach towards countries most severely affected by energy crises and decisions such as REPowerEU," she noted. mf