Enel on collision course with Slovakia

Italian energy giant Enel’s plans to offload its share in Slovak electricity producer Slovenske Elektrarne AS, or SEAS look to be in trouble as it struggles to find agreement with the Slovakian government.

The government is insistent that Enel completes the expansion of the country’s sole nuclear power plant, which is seen as key to meeting growing electricity demand.
Slovak Economy Minister Pavol Pavlis
Enel wants to offload its 66 per cent share, but the government, a 34 per cent shareholder

Slovakian officials want the expansion completed by 2017.The project budget has nearly doubled to €4.6bn from the original estimate of €2.8bn.

“We’ve told the Italian shareholder that the completion of the third and fourth units at the Mochovce nuclear power plant is the most important for us and that it’s our number one priority,” Slovak Economy Minister Pavol Pavlis told the Wall Street Journal.

The troubled relationship between both parties is compounded by a lawsuit being pursued by Slovakia against Enel over SEAS’s privatization valuation. Separately the government is also demanding compensation of between €280-€320m from Enel, regarding the Italian energy company’s contract to operate a Slovak hydropower plant.

 



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...