Spectator on facebook

Spectator on facebook

Slovakia and Hungary to construct two electricity links

Two new cross-border links of electricity networks between Slovakia and Hungary will be introduced soon, with a total investment exceeding €80 million.

L-R: Hungarian Foreign Minister Péter Szijjártó and Slovak Economy Minister Peter Žiga signing agreement on cross-border electricity links, March 1. (Source: TASR)

The agreement between the two countries' electricity transmission network operators has been inked in Bratislava on March 1.

The overall investment for the Gabčíkovo (Trnava Region)-Gonyu (Hungary)-Veľký Ďur (Nitra Region), and Rimavská Sobota (Banská Bystrica Region)-Sajóivánka (Hungary) links will exceed €80 million.

The agreement was signed by state-run Slovak Electricity Transmission Network (SEPS) general director Miroslav Obert and the head of the Hungarian company MAVIR Kamilla Csomai, with Slovak Economy Minister Peter Žiga, Finance Minister Peter Kažimír and Hungarian Foreign Affairs and Trade Minister Péter Szijjártó also present. The European Commission was notified in a joint letter.

Read also: Read also:Hungary blocks Mochovce

“The signing of this agreement and the subsequent building of two cross-border links will double the existing capacities between Slovakia and Hungary,” said Žiga, as cited by the TASR newswire.

Kažimír, for his part, described the agreement as one of the most significant investment operations by a Slovak state company in recent years. “I wish both the Slovak and Hungarian state budgets high dividends, which will return partly due to these investments,” he said.

Szijjártó praised the move as a contribution towards boosting the two countries' competitiveness. “By connecting the two countries at two points, we'll increase the security of energy supplies in both countries, the Hungarian minister noted, according to TASR. “The integration of markets could also help us to reduce electricity prices.”

Topic: Energy


Top stories

Robert Fico has lost the electoral magic he once had Plus

But his party can still bounce back if they do the things that make parties resilient.

Robert Fico claims that Smer won the regional elections because it is the party with the most chairs in regional councils.

New legislation protects creditors from unfair mergers

Fraudulent mergers were a legal business model enabling unfair businesses to get rid of debts

Tightening conditions when merging companies will increase the red tape of lawful mergers and prolong this procedure.

Fifty Shades of Grey: Slovakia's Olympic outfits will not stray from tradition Photo

The official outfit for Slovak athletes at the Pyongyang Olympic Games has been presented; the Slovak Olympic Committee (SOV) is not satisfied.

Olympic outfit of Slovak athletes

Blog: How long until a robot takes your job?

Are robots really taking over? What are the benefits and what are the risks?

Illustrative stock photo