Energy Efficiency Fund

Last updated: 5 November 2017
The Ministry of Economy proposed the Bill on the Energy Efficiency Fund to be presented to the Slovak Parliament in the second half of 2008. It was intended to transpose EU Directive 2006/32/EC on energy end-use efficiency and energy services.
Although the Bill was orginally expected to be implemented from January 2009 onwards, it has never been reached the point of establishment. However, in relation to the new Energy Efficiency Direcitve (EED) adopted on EU level in 2012, according to artciles 7 and 14 of EED, Slovakia is in a process of preparing a financial mechanism for energy efficiency
The Energy Efficiency Fund was one of the financial mechanisms proposed in the Slovak Government Energy Efficiency Action Plan for the years 2008-10. The main goal was to provide supplementary financing of energy efficiency measures. Initial financing of the Fund would be provided by the national budget (Chapter of the Ministry of Economy) up to the year 2010, totalling SKK 600 million. Beginning in 2011, a substantial part of the Fund was to be financed by obligatory contributions from energy companies. Energy companies selling electricity, natural gas and heat produced from coal for final energy consumption would be obliged to contribute to the Fund in the amount of:
SKK 4 from each MWh of electricity sold
SKK 3.2 SKK from each MWh of natural gas sold
SKK 4 from each MWh of heat produced from coal sold
The Fund would provide financing for:
establishing and operating a system for energy efficiency monitoring
increased public information campaigns on energy efficiency
promoting energy audits in all sectors of the national economy
promoting energy rationalisation projects in industry, services, the public sector and households
the development of energy services