Slovakia: Statement on counting the fifteen-year guaranteed price for electricity

Slovak law on the promotion of renewable energy sources and high efficiency cogeneration and the change and complement of certain laws as amended, guarantees the electricity price for 15 years. As a result of many interpretative possibilities and ambiguities, the Ministry now determined, that the calculation of the period of the guaranteed electricity price starts from the day of the activation of the device.

On the basis of the vague formulation of § 3 sec. 6 of the Law on promotion of renewable energy sources, there were three interpretative possibilities for the calculation of the fifteen-year guaranteed electricity price, whereas in extreme cases the difference in the calculation was almost one year. In the letter of the Ministry of Economy of the Slovak Republic no. 1229/2011-4210 from 10.11.2011, addressed to the Regulatory Office for Network Industries, the Ministry explained, that the fifteen-year guaranteed electricity price begins from the date of the activation of the device and ends on the day of the expiry of 15 years from the date of the activation. For example, if the device was activated on 19.12.2010, the period of the guaranteed electricity price ends on 18.12.2025.

The letter of the Ministry of Economy