35 companies, mostly with energy-intensive production, received the highest possible energy subsidy
19 January 2023
The highest possible energy subsidy of 500,000 euros was awarded to 35 companies, mostly with turnovers of tens to hundreds of millions of euros and energy-intensive production. As Transparency International Slovakia (TIS) further states on the social network, these include US Steel ironworks, Volkswagen, PCA and Jaguar car manufacturers, Mondi paper mills, Slovalco aluminum smelter, Matador tire and insulation manufacturer Johns Manville, Rona glassworks and Hornotrianske bane.
The Ministry of Economy of the Slovak Republic has so far subsidized increased energy prices for August and September 2022 to almost 5,000 companies. They already distributed more than 76 mil. euro “Several companies have also received dozens of subsidies for their operations. Among them, for example, the largest player in the tourism industry, the Tatry Mountain Resorts company, which received a total of 215,000 euros through 58 applications,” states TIS.
The current challenge, which will continue in the coming months, has been criticized mainly for its general nature, as it does not address the real impact of the increase in energy prices on the business of individual companies. However, unlike the already terminated rent subsidies, according to the non-governmental organization, the current scheme seems less susceptible to fraud, since the Ministry of Economy can verify electricity and gas bills with energy suppliers and distributors.