Slovakia: Government plans energy price cap
Slovakia will cap energy costs for businesses in the first quarter of next year to lessen the impact of skyrocketing bills. According to Prime Minister Eduard Heger, the government will set a cap of 199 euros ($195.42) per megawatt hour of electricity and 99 euros for gas, with the state footing the bill for 80% of expenditures over these amounts.
As the opposition puts up barriers and calls for early elections, the government is currently facing a difficult vote on its 2023 budget plans.
A power price cap for businesses is among the 3.5 billion euro worth of support measures in the proposed 2023 budget. The cap should cost roughly 500 million euros in the first quarter.
After Russia invaded Ukraine, Slovakia experienced rising energy costs along with the rest of Europe, and curtailed Russian gas imports have caused electricity prices to increase significantly.
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