Thursday, July 28, 2016

SIEA will announce third round of national project Zelená domácnostiam


The third round of national project Zelená domácnostiam will be launched on 6 September 2016. Slovak Innovation and Energy Agency (SIEA), as a body responsible for issuance and reimbursement of vouchers designed to facilitate installation of small renewable energy capacities in households, will issue fresh vouchers with three-month validity for households (except households in Bratislava Region).

The main aim of the environmental project is an achievement of a greater number of renewable energy capacities at household level. Project focuses on financial support for the installation of small equipment for producing electricity with a power of 10 kW (photovoltaic panels) and for the installation of the heat generator to cover the energy demand in a family or apartment building (solar collectors, biomass boilers, heat pumps).

Project is financially supported from Operational Programme Quality of Environment, EU funds (for example European fund for regional development) and state budget of the Slovak Republic. The budget of the pilot project, which will be in operation until 2018, was set at 45 million Euros. In the first and second round, 3 000 new installations worth 6, 7 million Euro were supported.

The total amount of support for the installation of small renewable energy facilities remains at the original 115 million Euros from European and national sources.

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EPH became a stakeholder in Slovenské elektrárne


Only two days after European Commission's approval, the first phase of shares' transfer in Slovenské elektrárne, dominant electricity producer in Slovakia, was concluded. EP Slovakia BV, a subsidiary of EPH, invested 150 million Euros for 50 % shares of Slovak Power Holding B.V.(SPH), which is with 66 % a majority stakeholder in Slovenské elektrárne. Enel Produzione S.p.A. retains 50 % in SPH what is equal to 33 % share in Slovenské elektrárne.

The primary price for the transaction of 50 % share in SPH was set at 375 million Euros. Stakeholders agreed that 150 million Euros has to be paid in the first phase of the transaction. If necessary, the remaining amount should be changed by an adjustment mechanism.

Today’s non-planned general meeting was held in order to reflect changes in the company. Stakeholders made changes in Articles of Association and new members in Board of Directors and Board of Supervisors were confirmed. With effect from 29 July, a new director of Slovenské elektrárne became Bohumil Kratochvíl, nominee of EPH, who replaced Nicola Cotugno from ENEL.

Chairman of Board of Supervisors retains Richard Paško, nominee of the Slovak Republic, vice-chairman retains Roberto Deambrogio, nominee of ENEL. New members of Board of Supervisors, delegated by SPH are Jan Špringl, Jiří Feist, Pavel Janík, Jan Stříteský, Michele Bologna a Rodolfo Avogadro di Vigliano.

At the end of July 2016, the ownership structure of Slovenské elektrárne is as follows:

66 % - Slovak Power Holding B.V.  (ENEL 33 % and EPH 33 %)

34 % - The Slovak Republic 

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Wednesday, July 27, 2016

Nuclear power plant Jaslovské Bohunice as an important factor for savings on heat


Nuclear fuel is in the European Union a unique source for central heating. Slovenské elektrárne, a dominant electricity producer in Slovakia, implements cogeneration in its nuclear power plant as the only company in Europe.

Nuclear power plant Jaslovské Bohunice provides heat supply for Trnava and nearby towns. In 2015 this source generated 480 GWh of heat. The most visible advantage of cogeneration in nuclear power plant for ordinary people is a price affordability of heat. Based on the data from The Regulatory Office for Network Industries, the price of heat is in this region is, compared to the rest of Slovakia, the cheapest. The reason is mainly the variable component of the heat price which is determined by costs of nuclear fuel. 

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Tuesday, July 26, 2016

The European Commission has approved acquisition of joint control over Slovenské elektrárne by EPH and ENEL


On Tuesday (26 July) the European Commission cleared acquisition of joint control over Slovenské elektrárne by EPH and ENEL. The Commission concluded, after the examination under the normal merger review procedure, that the proposed transaction would raise no competition concerns because of the fact that “…the overlaps between the companies' activities are either small or will continue to face strong competition from rival players.” The European Commission added that given the existence of alternative sources of supply at the wholesale level, the companies would have neither the ability nor the incentive to prevent their competitors from accessing electricity on the retail market after the transaction”.

The contract between ENEL and EPH for sale of 66 % stake in Slovenské elektrárne was signed on 18 December 2015. Italian and Czech companies agreed on two-stage transfer at preliminary price of 750 million Euros. In the first phase, EPH will acquire 33 % stake, the transfer of remaining share will be accomplished after completion of construction and putting into operation two nuclear units of nuclear power plant Mochovce.

The Slovak Republic will retain 34 % share, nay it has an option to increase its stake of 17 % in accordance with memorandum between ENEL and Ministry of the Economy of the Slovak Republic, which was signed with the consent of EPH. 

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