Slovenia prolongs electricity price cap till end of February

LJUBLJANA, Nov. 14 (Xinhua) — The Slovenian government announced on Thursday that electricity prices for households will remain capped until the end of February 2025.
Under the new measure, households will pay a fixed rate of 77 euros (81 U.S. dollars) per megawatt-hour of electricity, one of the lowest rates in the European Union, Prime Minister Robert Golob told a press conference following the regular government session.
Since 2022, the government has been capping electricity prices to alleviate the financial strain on households. The price cap will remain in place through the coldest winter months, including December, January, and February.
Without the cap, the average household electricity bill would be about 34 percent higher, the government noted.
To support this initiative, the government has also extended financial compensation for electricity suppliers until the end of February, covering the difference between the capped price and the market rate.
The cap on household electricity prices has helped Slovenia to reduce annual inflation to zero in October this year from 6.9 percent in October 2023. ■