Slovakia is seeking alternatives to the German energy exchange, as current market mechanisms are seen as unfairly burdening the country’s households and businesses, according to Jozef Holjenčík, head of the Slovak regulatory authority ÚRSO. The move comes as the German exchange drives up energy prices for Slovaks, despite the country’s reliance on nuclear power for a significant portion of its energy production.
Holjenčík argues that the prevailing European model, based on a “marginal price” system where the most expensive necessary source dictates the price for the entire market, disadvantages Slovakia. Because Germany often relies on more expensive coal and gas-fired power plants – burdened by CO₂ emission costs – Slovakia’s cheaper, nuclear-generated electricity is effectively priced alongside them. “For Slovakia, this is a big problem, because our production is largely nuclear, stable and emission-free, and therefore its real costs are much lower,” Holjenčík stated, according to Slovanské Noviny.
ÚRSO is exploring the creation of a regional energy exchange as a potential solution. This exchange could include countries with similar energy mixes or economic structures, such as the Visegrád Four (V4) – Czech Republic, Hungary, Poland, and Slovakia – or other nations with a high proportion of emission-free energy production. “One alternative to the German exchange could be for us to create a regional exchange for countries with a similar energy mix or economic structure,” Holjenčík said, as reported by ÚRSO’s official website.
The issue has gained traction at the highest levels of Slovak government, with Prime Minister Robert Fico also raising the possibility of moving away from the German exchange, according to Hlavnespravy.sk. Holjenčík emphasized the broader economic impact of high energy prices, noting their influence on the cost of food, services, employment, and the competitiveness of Slovak businesses.
The current system sees German energy producers leveraging high prices on the exchange, even when they could offer lower prices, according to ÚRSO. This dynamic, the regulator contends, is not in line with the principles of the common energy market. ÚRSO plans to continue analyzing options and will provide further updates to the public, according to a statement released on February 19, 2026.
