Slovenian businesses will be eligible for €1.2 billion in aid in the form of subsidies for high prices of electricity, gas and steam, a state subsidy scheme for furlough and part-time work, and liquidity loans, under legislation passed by the National Assembly that has been described as too little, too late.

Businesses will be eligible for the subsidies if their cost of electricity, natural gas and steam increases by over 50% compared to 2021. The subsidies will cover between 40% and 80% of eligible expenses, depending on the type of aid.

A short-time work subsidy scheme will be available between 1 January and 31 March 2023, while the furlough scheme will be in place between 1 January and 30 June 2023. The subsidies will cover 80% of gross pay up to a maximum of the average gross pay for October 2022.

The law, passed on 16 January, also entails a variety of liquidity loans, amounting to a total of €250 million. The subsidies for high prices of electricity, gas and steam are valued at €850 million and the furlough and part-time work schemes at €100 million.

The scheme was draw up under the premise that market prices of electricity would not exceed €350 per MWh, e level that is currently often exceeded.

As a result, companies are saying that it will not help them sufficiently in 2023 given how high the offers are that they are currently receiving from electricity distributors for power scheduled for delivery next year.

Tibor Šimonka, the president of the Chamber of Commerce and Industry (GZS), said Slovenian companies were receiving offers for at an average price of €460 per MWh.

Reduced by the subsidised amount, they could end up paying €316 per MWh on average, which is a "still considerably higher than the price paid by our competition in Europe," he added.

"At these prices, we cannot compete at the European level, let alone globally," said Blaž Cvar of the Chamber of Craft and Small Business (OZS).

Businesses do not expect a substantial aid from the state, according to Šimonka, they only want to operate in a competitive environment.

He thinks a better solution would be to set a ceiling on electricity prices, something the government has been reluctant to do for large businesses, though such a scheme is in place for SMEs.

Economy Minister Matjaž Han, while confident that the legislation will have a positive impact, acknowledged there were shortcomings.

"If we don't achieve the competitiveness we all want, we'll take new measures in the coming weeks or months," he said.