RUZ: Additional taxation of SE might destabilise energy sector

Employers belonging to the Republican Union of Employers (RUZ) have expressed their concern at the process of adopting the Excess Profits Tax on Trading in Electricity Generated by Nuclear Facilities Act, warning that the tax could push Slovak power plants into bankruptcy, destabilise the country's entire energy sector and shake investor confidence. The act was approved by the government via fast-track proceedings last week and is now expected to be dealt with by parliament. "The problem of rising energy prices wasn't caused by Slovenske elektrarne (SE) power utility as the only operator of nuclear facilities in Slovakia, and the solution shouldn't be a matter of poorly prepared moves that could have major negative impacts not only on the company, but could also trigger a series of cascading effects that would significantly affect the banking sector, many suppliers and other companies in Slovakia," the RUZ said.