Sakova Held Talks in Prague on Energy Price Compensation and Gas Supplies

Prague, 14 October (TASR) - Slovakia needs affordable energy, relief from high prices for industry and reliable alternatives to Russian gas, Economy Minister Denisa Sakova (Voice-SD) discussed these issues on Tuesday (13 October) in Prague with European Commission Director General for Energy Celine Gauer and Bulgarian Energy Minister Iva Petrova, the Slovak Economy Ministry reported on Wednesday. The agenda of the meetings included energy price compensation for industry, the implications of the REPowerEU plan and cooperation in the nuclear energy sector. The main topic of the talks with European Commission representative Gauer was the high energy prices, which are placing a burden on both industry and households. Slovakia is therefore advocating short-term measures to alleviate the costs faced by energy-intensive businesses and is highlighting the impact of the Emissions Trading Scheme (ETS) on electricity prices. "Europe needs immediate, specific solutions that will help reduce energy prices and maintain the competitiveness of our industry. Slovak businesses cannot cope in the long term with high electricity costs, which put them at a disadvantage compared to their competitors," emphasised Sakova, adding that Slovakia is advocating the temporary use of European funds for compensation schemes for industry. The discussions with the Bulgarian energy minister focused on the development of the so-called Vertical Gas Corridor and the use of Greek LNG terminals. These would enable Slovakia to secure alternative supplies of natural gas from southern Europe. The importance of these routes is also growing as a result of the REPowerEU plan, under which Slovakia is losing its position as a transit country and finding itself at the end of transport routes without direct access to LNG. This entails higher transport costs, a loss of transit revenue and the need to coordinate a response to US sanctions on oil supplies. Both countries were also exploring opportunities for cooperation on the construction of new nuclear reactors, where they plan to exchange expertise on financing, state aid and suppliers. Slovakia also offered Bulgaria its technical expertise and experience in the field of decommissioning nuclear facilities. am