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Electricity prices to go up 5% in 2Q97

Electricity prices for businesses will go up 5 percent in the second half of 1997, according to Finance Minister Sergej Kozlík, who made the announcement on April 23. According to the director of the state-run electricity producer Slovenské Elektrárne (SE), even a 5 percent rise may not offset the specter of SE making a loss. "If the prices are not increased or are increased by just 5 percent this year, SE will be in the red in 1998. This consequently will put in jeopardy loan repayments for Mochovce's completion." SE is lobbying for an average 20 percent electricity price hike, with a big part of that being borne by individuals.

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