Bratislava – To address the high energy prices that threaten the EU’s competitiveness, Slovakia advocates for a drastic solution. Prime Minister Robert Fico (Smer-SD) proposed in a letter to European Commission President Ursula von der Leyen, published on social media, a four- to five-year suspension of the emissions allowance mechanism.
Fico noted that during multiple European Council meetings, there have been calls for the Commission to provide specific proposals to lower electricity prices for key sectors in European industry.
“Respectfully, I must express that I have not seen any concrete initiatives from the European Commission. I believe we need a radical approach to tackle this issue,” emphasized Robert Fico. “I propose that the Slovak Republic officially declares a 4–5 year suspension of the emissions allowance mechanism. This decision would significantly boost and support strategic industrial sectors,” the Prime Minister stated.
Fico anticipates additional measures to reduce the soaring electricity prices within the EU
He is optimistic that more measures will emerge to address the exceedingly high electricity prices. Fico pointed out that a key factor affecting the EU’s global influence is its competitiveness, which he described as “alarming.”
“The future of the EU hinges on whether we will stubbornly cling to poorly conceived ambitious climate objectives that are undermining strategic European industries, or whether we will possess the strength and courage to implement meaningful reductions,” he emphasized.
He cited the case of Slovalco, which ceased primary aluminum production in Slovakia in 2023 due to “absurdly high electricity prices.” According to Fico, Slovalco was among the most modern and environmentally friendly producers, contributing to 10% of the total primary aluminum output in the EU.
“The situation in strategic industrial sectors is more dire in some Member States than it may appear from Brussels. The EU is committing over 380 billion euros to support Ukraine in its conflict with Russia, which lacks a military resolution and dominates the agenda of European Council and Commission meetings. It’s only natural for citizens of Member States to expect that the EU’s future, which is vulnerable without a robust economy, receives equal attention and resources,” Fico added. (20 January)
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