Slovak government approves cheaper electricity supply deal with power producer

Bratislava, June 12 (CTK correspondent) – The Slovak government today approved a contract with the country’s largest electricity producer, Slovenské elektrárne (SE), and its private shareholders to supply electricity to households in the country at a price below the current market rate. SE is to sell part of its output for around 61.2 euros (1450 crowns) per megawatt-hour (MWh). The contract will still be reviewed by the European Commission.

According to the website of the Prague-based Central European Energy Exchange Power Exchange Central Europe (PXE), the price of Slovak electricity for delivery next year stood at 141.3 euros (3360 crowns) per MWh today.

In return, under the published document, the state pledged to support the commissioning of two units at the Mochovce nuclear power plant and promised not to seek to introduce new taxes affecting SE. A majority stake in SE is controlled by Czech businessman Daniel Křetínský’s Energetický a průmyslový holding (EPH) and Italian conglomerate Enel.