Enel may get up to Sk50 billion in compensation

IF SLOVAKIA withdraws from a contract leasing the hydro-power plant in Gabčíkovo to power producer Slovenské Elektrárne, the utility’s majority owner, the Italian firm Enel, may demand compensation of up to Sk50 billion.

Dominik Kocinger, the government’s appointee for Gabčíkovo, claims that the previous government signed a disadvantageous contract with Enel on leasing Gabčíkovo. On the basis of this contract, Enel will be entitled to compensation for lost profits for 30 years should Slovakia break the deal.

Last year, profit from the operation of the Gabčíkovo plant came to Sk1.2 billion, and Kocinger expects that the price of electricity will increase in the coming years, the Sme daily wrote.

Get daily Slovak news directly to your inbox

Top stories

UPDATED: Nationwide testing for COVID-19 is on

Long queues have formed in front of most testing points since early morning. Some drive-through sites closed in Bratislava

Testing in Trenčín, western Slovakia

The big testing: When and where to show up, and what if I don't want to? (FAQ)

Here is what we know about the practicalities of the nationwide testing so far. Testing also applies to foreigners and diplomats in Slovakia.

Pilot testing in Bardejov

Afraid of testing? Minimise your risk of infection with these test day tips

Coughing is the most dangerous part of the testing process.

Zborov, the Bardejov district

The big test is upon us. What are we to do?

For a foreigner living in Slovakia, there is yet another concern.