In view of the current downturn in electricity prices, ELES intends to cover as soon as possible, in addition to daily purchases on the power exchange, as large a share as possible of the total electricity portfolio for the transmission and distribution network for 2023 and a proportionate share for the following year.

Due to the weak liquidity situation and the high daily outflows, ELES needs additional funding from its founder in order to fulfil all its legal obligations and to avoid breaches of international commitments between the electricity operators to which it is bound by European Union regulations, as it is not in a position to obtain additional funding from financial institutions within the required timeframe.

The Government, acting as the General Meeting, has decided that, on the basis of an assessment made of the funds required to pay for the purchase of electricity losses on the electricity transmission and distribution network incurred in the period from 1 January 2023 up to and including 31 December 2023, it shall make a contribution of EUR 170,000,000 to ELES, d.o.o., by the end of the year.