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Fico wants €492 million from Enel for Gabčíkovo

THE DECISION of Bratislava Regional Court concerning the invalidity of the rental contract between the state and electricity utility Slovenské elektrárne (SE) for the Gabčíkovo hydroelectric power plant came into force as of April 28 Prime Minister Robert Fico announced,  according to TASR newswire reported.

Prime Minister Robert Fico(Source: SITA)

Italy’s Enel is seeking to sell its 66 percent share in SE and the loss of Gabčíkovo, which generates more than 7 percent of Slovakia’s annual energy consumption, may reduce the selling price of Enel’s share in SE.

The Regional Court in Bratislava decided on March 9 that the contract on operation of the Gabčíkovo hydropower plant is invalid because instead of a direct agreement with SE, a public tender should have been announced. The result comes form a 2007 lawsuit filed by the Public Procurement Office against SE.

Fico further stated that the government will send a letter to SE’s majority owner Enel, demanding back the €492 million that SE, which is controlled by the Italian company, gained from operating Gabčíkovo for nine years. This amount includes interest. If Enel refuses to pay, the Government will take legal action, said Fico.

Prime Minister announced that he is due to meet Enel General Director Francesco Starace in Bratislava, when he will ask him to ensure that Enel restricts any dealings with SE’s property. According to Fico, if Enel rejects his demand, a court may soon issue an injunction to that effect.

Meanwhile, Enel wants to take legal action against the state, demanding compensation of €588.2 million for the taking over of the hydroelectric power plant in March. Fico described Enel’s demand as having no legal basis.

Topic: Energy


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