Résumé
In the wake of the COVID-19 pandemic and the Russian invasion of Ukraine, many countries see coal as the easiest solution to their energy sector challenges, despite the consequences for climate goals. Several countries of the European Union started to re-evaluate their coal policies vis-à-vis the current energy crisis and, although such a change is expected to be short-term in nature, it nevertheless has negative consequences for the Union's 2050 climate goal. However, most of the EU countries did not revise their phase-out goals. This paper examines Slovakia as a country that embarked on a coal phase-out trajectory only a few years before the pandemic broke out and stayed firmly on this path despite benefits stemming from the continued use of domestic coal. Domestic coal used to be considered a safeguard of energy security in Slovakia, especially after the 2009 gas crisis. However, a decision was made in 2018 to phase out coal by 2023, and this has not changed despite increased focus on domestic energy sources as energy security guarantors during the current energy crisis. This paper explains the decision in favour of a coal phase-out and its support vis-à-vis the energy crisis using the concept of ‘financial Europeanisation', which stresses the importance of EU funds for the development of the domestic policies of EU member states. While the expected funds serve as a catalyst for the coal phase-out needed to reach climate goals, short-term advantages of revising a coal phase-out were outweighed by long-term benefits provided by EU funds.