PM Golob: Slovenia earmarks EUR 5 billion to ease energy crisis in 2023

Slovenia will spend almost EUR 5 billion to shield households, companies and the agriculture sector next year from the energy crisis, Prime Minister Robert Golob said. He expressed confidence the measures would lower inflation and make the national economy competitive.

The government will continue the measures to mitigate the impact of surging energy prices, Prime Minister of Slovenia Robert Golob said. Speaking in the National Assembly, he revealed the plan intended for next year, “when the situation will be the worst,” amounts to nearly EUR 5 billion.

Some laws have already been adopted and others are under preparation, in his words. Golob said the aim is to enable Slovenia to get through the winter without major damage.

No one to be left without energy supplier

The regulation is intended to ensure the largest suppliers including state-owned companies would take over the responsibility for all consumers, at regulated prices, and that inflation is driven below 10%, making the economy competitive, he pointed out. The regulated prices introduced on September 1 should be valid through the end of the next year or “as long as necessary,” according to Golob, who stressed “no one will be left without a supplier, much less without supply.”

The new prime minister said it is possible his government would nationalize certain energy companies

The government will earmark EUR 1.5 billion for the business sector and EUR 1.2 billion for households, while the agriculture sector will also receive aid, he said. “We will protect jobs and we will protect people. We will not forget anyone,” Golob stressed.

Golob warns of market manipulation

The prime minister urged for changes in the European Union’s energy market regulation. Golob said the prices of electricity and natural gas are no longer linked to production costs and also warned of financial speculation in the futures market, citing insufficient liquidity.

He also told lawmakers that it is possible the government would soon nationalize some of the energy companies in Slovenia. Radio Slovenia reported that it intends to buy gas supplier Geoplin. The utility’s majority owner is Petrol.