Slovakia Gains Control Over Gas Prices

Slovakia intends to increase control over national gas prices by buying back a minority stake in gas company Slovensky Plynarensky Priemysel. 

“We are gaining total control over gas prices,” said Prime Minister Robert Fico at a press conference in Bratislava.

The government, which already owns 51% of the company, agreed to buy the remaining 49% from Czech utility Energeticky a Prumslovy Holding (EPH). The Czech company purchased the stake from E.ON and GDF Suez in January, after an arm wrestling between the Slovak Government and the two companies over gas prices. 

“We don’t have to worry about a sudden increase in gas prices for households at the beginning of next year,” said Fico.