Monday, September 05, 2005

Enel in Slovakia

Last information from Slovakia according privatisation of state electricity
monopoly Slovenske elektrarne + Mochovce NPP:

- New investment plan of Italian ENEL doesn´t condition the construction
of 3rd and 4th unit in Mochovce with appropriate electricity prices and
ENEL also doesn´t want state guaranties; said Slovak minister economy
minister Mr. Ivan Miklos.

- The last investment plan of ENEL has 10 pages and some appendixes.
The before-last plan had 105 pages and was conditioning appropriate
electricity prices and heat prices, decreasing the fees for radioactive
waste fund, or setting up a fee for 8 years in a high of 0,023 EUR per kWh.

- ENEL also changed the view for constructing Mochovce 3 and 4.
In the first version the plan evaluated that the power plant would, also after
the Kyoto protocol validity, after 40 years of lifetime create a loss of
minimum 51 mil. EUR. The last document is by opinion of Mr. Miklos
other: "The Italians negativelly evaluated previously projects of wind power
plants but not finishing Mochovce.", said Miklos. Under his opinion, the
problem of the investment plan are the missing details.

- By Mr. Miklos opinion is the problematic area of ENEL plans the offer
that the part of future investments would be payed from the blocked
dividends of Slovenske Elektrarne. They should by payed out till the year
2012. State would then lose more than 37 mil. EUR.

- The first analysis of ENEL said that for finishing of Mochovce NPP is
needed 1,161 billion EUR. By the Italians opinion should be half of the
sum created by Slovenske Elektrarne in the years 2005 - 2012. ENEL is
also counting with irretrievable loans and dividents. The needed investments
in Slovakia and surrounding countries should higher the transcriptions
of producers what would by ENEL opinion increase electricity price till
2015 for more than 0,016 EUR per kWh.

Pavol Siroky


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