In May 2017, the Economy Minister in Slovakia declared that the country
intends to gain more control over the strategic companies, beginning with plans for an energy sector
holding company to own all the shares in crucial energy companies in which the state has proprietorship, and possibly to acquire new ones.
License requirements for energy companies in Slovakia
According to the Energy Act in Slovakia
, the energy supply companies
in the country must acquire an energy license
. Our Slovak company formation
consultants can offer further details related to this license. We also offer help to open a company in Slovakia
In order to acquire this type of license needed to open a company in the energy industry in Slovakia, the following conditions have to be met:
• A corporate presence in the country: in case the applicant is foreign, it has to set up at least a branch in Slovakia as defined by the Slovak Commercial Code, or to open a subsidiary;
• The applicant must have a responsible representative: a person who should be in charge of the energy trading execution. This person can act on behalf of only one electricity trader in this capacity and must have the professional qualifications needed in the domain of electricity supply;
• The applicant should have integrity of the legal entity: this implies the integrity of the head of the branch or the legal entity should be proven in the sense that he or she has not been convicted of any criminal act related to energy trading.
The license is issued based on an application. It is obtained in 30 days from the filing of the complete application. The license is obtained for an unlimited period of time.
The structure of the electricity market in Slovakia
The Slovak electricity market
is regulated by standard trading forms, like bilateral contracts, auctions and the balancing market. Our Slovakia company formation agents
can provide further details on this matter.
The participant number in this market has significantly risen when new players came in to profit from the fact that the license for the generation or supply of electricity was not required.
In case you need to learn more about the energy sector in Slovakia
, or for assistance in starting a business in Slovakia
, please get in touch
with our friendly staff.