D. Saková in Nicosia: On behalf of Slovakia, we call for stronger European coordination on energy security and the protection of our companies’ competitiveness
Denisa Saková, Deputy Prime Minister and Minister of Economy of the Slovak Republic, participated in an informal meeting of EU ministers responsible for energy in Nicosia, Cyprus, on Wednesday, May 13, 2026. The main topics of discussion were the European Union’s energy security, the AccelerateEU initiative, and the development of electricity storage capacity. Slovakia has long emphasized the need for stable energy supplies and affordable energy prices for households and industry, particularly in times of geopolitical uncertainty that directly affects commodity prices on energy markets. Minister Saková also highlighted the need for fair treatment of all Member States, particularly those facing the most severe consequences of geopolitical and energy-related crises. She further emphasized the importance of providing equitable support to the sectors most affected by these challenges.
“We support common European solutions. The solution currently proposed by the European Commission, which aims to reduce energy prices in the short term through reductions in VAT rates or excise duties, cannot realistically be implemented in Slovakia and many other Member States due to the limited capacity of national budgets. We must therefore be more ambitious and pursue systemic changes to the functioning of the energy market. We need to reassess the emissions trading system and reform the electricity pricing mechanism so that electricity prices are no longer directly linked to gas prices. An important proposal currently being prepared by the European Commission is the so-called Investment Booster. Within this framework, we expect a fair approach to countries that have been most severely affected by the energy crisis and by measures adopted under initiatives such as REPowerEU,” said Denisa Saková, Deputy Prime Minister and Minister of Economy of the Slovak Republic.
During the discussion on the AccelerateEU initiative, the minister highlighted the need for more effective tools to address the consequences of rising energy prices, geopolitical instability, and the implementation of REPowerEU measures aimed at phasing out imports of Russian natural gas. Slovakia supports the use of unspent European funds to assist energy-intensive industries and protect the competitiveness of the European economy.
Another key topic of the discussions was the future role of natural gas in the EU’s energy security after 2030. Slovakia continues to replenish its gas storage facilities and strengthen its energy security through the diversification of supply sources, including through the activities of the state-owned company SPP, a.s. Minister Saková emphasized, however, that for Slovakia, as a landlocked country, it is extremely important to maintain access to all available supply routes and eliminate bottlenecks in Europe’s energy infrastructure.
The discussions also focused on electricity storage, with Minister Saková presenting upcoming projects related to battery energy storage and the modernisation of energy infrastructure. Slovakia expects to commission approximately 200 MW of new energy storage capacity in the coming months, supported primarily through funding from Slovakia’s Recovery and Resilience Plan. She emphasized that the development of flexibility and energy storage is a strategic issue not only from the perspective of energy security, but also for industrial development and the country’s long-term competitiveness.
The working visit also included an event marking the 37th anniversary of the bi-communal dialogue between Greek Cypriot and Turkish Cypriot political parties. The Slovak Republic has long supported this initiative as a means of promoting dialogue, building trust, and encouraging peaceful solutions to conflicts. The commemorative event was symbolically held at the UNFICYP Memorial.
The Press Department of MoE SR