Slovakian cement companies to receive compensation over electricity prices

A total of EUR40m is to be redistributed to 76 energy-intensive companies in Slovakia, including the cement sector.

CRH Slovensko and Povazská Cementáren are among the companies that will be compensated for the high electricity prices, according to a SITA newswire.

Economy Minister, Peter Ziga (Smer), said, "our industry appeared in the worse position compared to foreign competition. Thus, we have passed the first compensation in Slovakia's history."

The minister believes the compensation will help increase the competitiveness of companies since they will receive some of the money they contribute to support electricity generation from renewable resources.