Large companies applied for more than CZK 5.5 billion in compensation for expensive energy

Large companies applied for more than CZK 5.5 billion in compensation for expensive energy

Large companies requested compensation for expensive energy for more than 5, 5 billion CZK

Ministry of Industry and Trade (pictured on May 7, 2013 shows a sign on the Ministry building in Opletalova Street in Prague).

Prague – Large companies have asked the state for compensation for increased energy costs for more than 5.5 billion crowns. The state originally allocated up to 30 billion crowns for this program, which it launched in mid-November and extended until today's midnight against the original plans. ČTK was informed about this today by the Ministry of Industry and Trade (MPO). The state will use the remaining money to cap electricity and gas prices.

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“In total, we are registering requests in the amount of over 5.5 billion crowns. We will use the difference between the original allocation and the used funds to cap energy prices,” said Minister of Industry and Trade Jozef Síkela (STAN).

The subsidies were intended for large enterprises that are connected to high and very high voltage lines. Companies whose unit prices for gas and electricity more than doubled last year compared to 2021 could specifically apply for compensation. In the end, the Ministry received a total of 1,041 applications for almost 5.52 billion crowns. Of these, the office has so far approved 393 applications for 2.76 billion crowns, while two applications for 3.4 million crowns have been rejected so far. “We should evaluate the remaining requests by the end of March,” said Eduard Muřický, senior director of the economy section. “We estimated the allocation at the turn of last summer and fall, when energy prices were at their peak. Our goal was, also based on negotiations with industry representatives, to secure an amount to cover the maximum possible number of eligible applicants,” he added.

Individual businesses could receive support of up to 45 million crowns. A maximum of CZK 200 million could then be received by companies from highly energy-intensive fields that are running at an operating loss. Typically, these were companies from the processing, agricultural or mining industries.

The Ministry originally intended the subsidies as help for companies that did not meet the government's price limit on energy. However, at the end of last year, the government decided to extend the ceiling for large companies as well. This is also why the companies did not use the entire budget of the program.