Electricity prices to rise for Slovak households

As of 2020, regulated prices of electricity for Slovak households and small businesses should significantly increase, said Martin Semrič of the Magna Energia company. The reason for the hike is the current regulation formula, which is derived from the electricity prices traded at the Commodity Exchange in Prague. "If the regulatory office manages to trim down some item, the hike could be milder. If not, households should expect that after adding all other fees, the price of electricity could rise by 7% next year," said Semrič. "It is truth, that the price of electricity has been continually growing. The office, however, never comments prices in advance. It is certain that the office will use its regulatory tools to a maximum extent, to protect the interests of customers, with respect to all other parties on the market," said Radoslav Igaz, spokesperson of the Regulatory Office for Network Industries in Slovakia.