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Mochovce will be more expensive and completed later

The budget for completion of the Mochovce nuclear power plant may increase to €5.4 billion.

The third block of the nuclear power station in Mochovce.(Source: Sme)

Completion of the third and fourth blocks of the nuclear power plant in Mochovce might cost as much as €5.4 billion admitted Economy Minister Peter Žiga on November 2. This means an increase of €800 million compared with the last budget approved by shareholders of the builder of the facility, Slovenské Elektrárne (SE).

“The final sum could also be lower,” said Žiga as cited by the TASR newswire, adding that it is the Italian shareholder Enel who has responsibility and competence for the completion of the two blocks.

In early October Slovenské Elektrárne announced in a letter to the Economy Ministry than they would complete the third block in the summer of 2018 and the fourth block by the summer of 2019, informed state secretary of the Economy Ministry Vojtech Ferencz. Simultaneously they asked for an increase of the budget, to €5.4 billion. While an increase to the latest approved budget of €4.6 billion was expected, the estimate was lower - €500 million.

Read also:Mochovce completion may be late, again

How much the budget will be increased will be a topic of discussion for SE shareholders. The Slovak government holds a 34-percent share in SE. Enel originally held 66 percent, but it is selling its share to the Czech company Energetický a Průmyslový Holding (EPH) in two phases the first one having already taken place.

“We as the state will ask why such money is spent and why completion of the construction is being constantly postponed,” said Žiga.

The original plan from 2008 was to complete the two blocks for €2.8 billion while the third one should have been complete in 2012 and the fourth one in 2013.

To have the budget for the completion of the nuclear facility in Mochovce increased, SE needs the approval of its shareholders.

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Topic: Energy


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