Slovakia is on the verge of becoming a net exporter of electricity, yet its businesses continue to pay among the highest prices in Europe.

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The launch of a third reactor at the Mochovce nuclear power plant has made the country almost self-sufficient, with a fourth unit due online next year.  Last year, nearly 61 percent of Slovakia’s electricity came from nuclear power, while hydropower accounted for 17 percent, making the country one of the most nuclear-dependent in the EU.  

Still, energy prices remain largely dictated by the German market, which sets the regional benchmark, writes Denník N. In the first half of this year, Slovak firms paid an average of €204 per megawatt-hour, including taxes and fees – the sixth-highest price in the EU and €37 above the EU average.

“Slovakia can’t meaningfully influence prices on Europe’s power exchanges,” said Radovan Potočár, an analyst at Energie-portal.sk. “Its domestic energy mix has only a limited effect.”

Taxes and levies add further pressure, with high charges for renewable subsidies, grid operation and nuclear safety. Capacity fees, which ensure stable supply, cost around €27 per MWh, compared with €10 in Germany.

While households benefit from capped prices under a government deal with Slovenské elektrárne, companies see little relief. Fixed long-term contracts mean price falls take time to filter through, though interest in flexible “dynamic” tariffs is slowly growing.

The cheapest electricity in Europe remains in the Nordics – Finland, Sweden and Norway – where strong renewable output keeps prices low.

For Slovakia, energy independence may be within reach, but lower bills are not.