Slovenské elektrárne protest government measures
Measures the Slovak government is adopting to tackle soaring power prices may stop the completion of the Mochovce nuclear power plant’s fourth bloc and lead to Slovenské elektrárne’s bankruptcy, warns its CEO Branislav Strýček. Enel and EPH, which own 66% of SE’s shares, refuse to provide additional financing. SE needs a €400m cash injection to survive this year and is asking the government to provide it. Banks will not lend more money as SE owes them €4.2bn and SE expects another loss this year. Strýček says that banks may even veto the government’s cheap power scheme for 2023-24. He estimates that 70% of industrial companies in Slovakia do not have power contracts for next year, which he calls irresponsible. Strýček says the solution to high power prices is subsidizing gas prices by EU countries. At the current price of €550 per MWh, Slovak industry has no chance of survival.
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