Elektrarne, an electricity company, is at the heart of the debate in Slovakia. During a debate, the country’s Minister of Finance, Igor Matovic, spoke on the issue of a possible nationalization of the company in the context of the energy crisis. According to him, the purchase of Elektrarne’s shares would be an extremely urgent measure.
The option to buy back the shares of Elektrarne
Igor Matovic did not insist on the modalities concerning a nationalization of Elektrarne. However, he comments:
“One solution would be to try to reach an agreement with the current shareholders to buy out their shares in Elektrarne.”
According to him, this takeover would allow Slovakia to regain control of its tariff policy. However, it does not mention the cost attributable to such a measure.
Currently, Slovakia holds 34% of Elektrarne. Enel and EPH hold the remaining 66%.
Slovakia relies on nuclear power
In February, Elektrarne conceded a cap on the price of electricity for households. The company opted for this solution to avoid a one-time tax. In fact, the Slovakian state has considered this solution to contain soaring energy prices.
In fact, Slovakia is also banking on nuclear power. Elektrarne operates the country’s power plants. This includes the two units in Mochovce and the 1,000 MW Bohunice plant.
It should be noted that the country intends to develop nuclear power. Tests are underway for a third unit in Mochovce. The new plant, with a capacity of 471 MW, will be operational in early 2023.
Is nationalizing Elektrarne the only solution?
If the nationalization of Elektrane has been mentioned, Igor Matovic says that other solutions would be preferable. He then cites a cap on the profits of non-gas energy producers.
This solution was also discussed on Friday at the meeting of EU energy ministers.
