European Commission has presented the “Accelerate EU” to member states
Its goal is to mitigate the rise in energy prices resulting from the tense situation in the Middle East. This conflict is already having a noticeable impact on Europe—the EU’s spending on energy imports has increased by approximately 23 billion euros. Although there is no immediate threat to energy security at this time, supplies of certain products, such as diesel and jet fuel, are tight.
“We will likely feel the effects of the crisis for months or even years to come. This makes it all the more important that the proposed measures cover a broad range of areas, including energy, transport, investment, taxation, and state aid rules. In the area of state aid, while we welcome the fact that the proposal envisages more substantial assistance for businesses affected by high electricity prices, it does not allocate any new financial resources — such as unspent EU funds — to provide aid to energy-intensive businesses,” said Deputy Prime Minister and Minister of Economy of the Slovak Republic Denisa Saková.
The Ministry of Economy of the Slovak Republic recognizes the proposal’s effort to strengthen coordination of gas storage and the potential release of oil reserves, including dialogue with suppliers and the mapping of reserves and refining capacities. For Slovakia, however, the stability of oil supplies via the Družba pipeline remains a key issue.
Mitigating the impact of high energy prices—for example, through direct compensation or by reducing excise taxes and VAT on certain technologies—will depend largely on the availability of public funds and the effective use of European resources. It is therefore important that the state aid framework currently under preparation allows for flexible financing mechanisms —including the use of revenues from the emissions trading system or unspent EU funds to support energy-intensive businesses.
The Ministry of Economy also welcomes the European Commission’s intention to present, by July, additional support measures for industry through the Industrial Decarbonisation Bank and the Investment Booster financing instrument.
The MoE SR will analyze the EC’s individual legislative and non-legislative proposals in detail, with an emphasis on their impacts on Slovak households, industry, and energy security. At the same time, it will continue to advocate for solutions that take national circumstances into account, support competitiveness, and ensure stable and affordable energy prices.
The Press Department of MoE SR