EU action plan fails to promise quick energy price relief

In Slovakia, on March 17, 2025, during the EU Council for Energy meeting in Brussels, Denisa Sakov, the Minister of Economy, emphasized that the European Commission's proposed action plan for affordable energy would not result in an immediate decrease in energy prices. She highlighted the urgency of restoring gas transit through Ukraine, which she believes could normalize prices across Europe. With gas transit through Ukraine halted, the Slovak government views immediate solutions as essential, especially since gas storage levels are inadequately low and need replenishment. The Minister's remarks align with ongoing discussions about the broader context of energy security and adequate supply chains in Europe. On March 21, 2025, Slovak Prime Minister Robert Fico reiterated the importance of resuming gas transit through Ukraine, asserting that this would help mitigate high energy costs affecting the entire European Union. He noted that the current market rates for gas are significantly elevated compared to previous years, and there should not be a justification for paying these inflated prices due to geopolitical decisions affecting gas transit routes. Fico's statements reflect a consensus among Slovak officials regarding energy pricing challenges and the need for a robust response. As European leaders continue to deliberate on economic policies, Fico expressed disappointment with the recent action plans introduced by the European Commission, pointing out the necessity for immediate resolutions rather than long-term strategies. He raised concerns that the high energy prices are detrimentally affecting economic growth and competitiveness in the region, complicating discussions on regulatory and administrative burdens. Fico's broader goal includes mobilizing private investments to tackle these systemic issues and support national stability amid fluctuating energy costs that compromise economic security. Overall, the conversations around energy prices and security within the EU are critical now as Slovakia anticipates greater collaboration with other member states to ensure that energy remains affordable and accessible amidst ongoing geopolitical tensions. The Slovak leadership believes that restoring gas transit through Ukraine is not just a national priority but also crucial for regional stability and economic health across Europe.