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Enel gets first allowance

THE ITALIAN company Enel received its first allowance from the state, the Pravda daily writes. Enel should enter the Slovak power producer Slovenské elektrárne (SE) as the majority owner by April 2006.

Pravda writes that the Economy Ministry recently agreed that state-owned electricity-grid operator Slovenská elektrizačná a prenosová sústava (SEPS) will cover one-tenth of SE's losses from 2005 and 2006. The losses stem from the supply of electricity to the company Slovalco.

Based on a contract dating back to 1994, SE must supply electricity to Slovalco for prices that are far below market level.

State allowances for SE will reach almost Sk 0.5 billion for 2005 and 2006.

Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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