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Cabinet speeds up power utility privatization

THE SLOVAK cabinet does not want any further delays in the privatization of Slovak power utility Slovenské Elektrárne privatization process. Thus the Economy Ministry, in cooperation with the Finance Ministry and the privatization advisor, speeded up the preparation of a new law that would lead to nuclear plant closure.

This law is the only remaining obstacle for finalizing the privatization deal between the Slovak government and the Italian company Enel.

The law is to ensure that the almost Sk15 billion (€385 million) debt registered in the National Property Fund would be picked up by the electricity consumers and not by Enel itself. The debt is to be directly translated into the price of electricity.

The law could be forwarded to parliament as early as November this year, Peter Mitka from PricewaterhouseCoopers, the privatization advisor, told the Pravda daily.

Compiled by Magdalena MacLeod from press reports
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