The government wants to trade energy through the state-owned company Prisko. He is to buy current at a discounted price | iRADIO

The state applied for a license to trade in electricity and gas for Prisko, which it owns. The company’s task will be to buy power for the public sector at a discounted price, said Finance Minister Zbyněk Stanjura (ODS) to the Hospodářské noviny website. But Prisko will not be the final state trader, he will only cover the time needed to create a new company, the minister said.



Prague
10:05 p.m September 6, 2022

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Minister of Finance Zbyněk Stanjura (ODS) | Photo: Michal Růžička | Source: MAFRA / Profimedia

The Ministry of Finance decided to use Prisko as an energy trader because it is faster than the creation of a new company or agency, which is being prepared by the Ministry of Industry and Trade. She is also supposed to apply for a license for energy trading. The state will probably have two energy traders in the future, the Hospodářské noviny website reported.

“We’ll have him in reserve. I assume that it needs to be done this year. And with a newly established organization, I am not sure that it is possible to do it,” said the minister.


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The state company Prisko was founded in 1992 during the privatization of the Mladá Boleslav car company in the hands of the Volkswagen company. Through it, the Ministry of Finance owns a 100 percent stake in the mining company OKD.

The Minister of Industry and Trade Jozef Síkela (for STAN) should present the options for the creation of a state-owned energy trader to the government on Wednesday.

According to Síkela, the establishment of a state energy trader is the fastest way to help, for example, regions, municipalities or hospitals, he told journalists on Tuesday. If energy was purchased at high prices, the state would further provide it at a discount to make energy affordable.

The state trader should acquire energy for so-called protected customers in such a way that producers above a certain size will have to sell part of their production to him at a predetermined price. The purchase price under Stanjura will include production costs plus a reasonable profit.


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“We have to determine it by law. This way, the debates about whether the company is doing the sale with the care of a good manager and whether it could have made a bigger profit otherwise,” the minister told Hospodářské novinám. According to them, the state trader will need to buy about a third of the electricity consumption in the Czech Republic.

It is not yet clear whether the state trader will take the form of an organizational unit of the state or a separate legal entity. According to Minister Síkela, both solutions have advantages and disadvantages. This will require a change in the law, which is already being prepared.

“The important thing is that we will have a trader, he will buy energy and provide it at acceptable prices to the public sector,” Síkela said on Tuesday. In the future, according to him, it is possible that the state will use the state trader for a purpose other than the one-time purchase of energy for the public sector.

CTK

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Tags: government trade energy stateowned company Prisko buy current discounted price iRADIO

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