IN SHORT BUSINESS

Energy law is missing

THE SLOVAK Economy ministry is late in preparing the key law on decommissioning Slovakia's nuclear power plant. The law is a critical part of the ongoing sale of the 66 percent share in the power producer Slovenské elektrárne (SE) to a strategic investor.

The law should take effect January 1, 2005, but the ministry has not yet started its preparation, the daily Pravda wrote.

The power producer is worthless without the law, as potential investors will not know the source of the Sk90 billion (€2.3 billion) needed to finish the decommissioning process.

Potential investors are currently offering between Sk40 billion (€1 billion) and Sk19 billion (€475 million) for the stake in SE.

If they were also required to pay the cost of decommissioning the power plant, they would likely rethink their bids.

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