The price of power

POWER producer Slovenské elektrárne (SE), burdened with bad loans and disadvantageous contracts, has virtually no value for future investors, the Slovak daily Pravda wrote. The commitments of the company outweigh SE's assets by at least Sk61 billion (€1.5 billion).

In addition to bad loans and contracts, a major problem is the lack of funding for the decommissioning of two nuclear plants - Mochovce and Jaslovské Bohunice.

Five bidders for a 66 percent stake in SE are nearing the end of due diligence and the two investors who are interested in SE as a whole - the Czech ČEZ and the Russian RAO UES - have asked that the model for financing the decommissioning be changed. The date by which the bidders were expected to submit their binding offers might be postponed so that the problems can be solved. Originally, the binding bids were to be submitted by June 18.

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