The article discusses the relationship between electricity prices and gas costs in Europe, emphasizing that recent geopolitical events, particularly the U.S. attack on Iran, have caused a sharp increase in gas prices, effectively doubling the cost of electricity generation from gas. Despite the influence of gas prices, former Slovak Prime Minister Robert Fico focuses on opposing emission allowances to reduce electricity costs, although evidence suggests that gas prices are the more significant factor affecting overall electricity prices.

Former European Central Bank President Mario Draghi has suggested that the pricing of electricity from clean sources should be decoupled from gas prices, a measure that could lead to a more stable electricity market. Currently, the price of electricity in the European market stands at nearly 120 euros per megawatt-hour, with 94 euros attributed to gas costs compared to only 27 euros for emission allowances, illustrating how gas prices hold dominion over energy costs in Slovakia and beyond.

In response to the ongoing conflict in Ukraine and its repercussions on energy supplies, the Slovak government, led by Fico, is under pressure to deliver cheaper energy solutions. However, as the data shows, the persistent rise in gas costs, primarily affected by geopolitical tensions, may hinder these efforts, making it crucial for policymakers to consider structural changes in energy pricing strategies that could alleviate consumer burden and stabilize the market.