The privatization committee of the Slovak government recommended, on 10 September, the Italian company ENEL as best bidder to purchase 66% of Slovenske Elektrarne (SE) shares. Enel had offered the highest sum for the majority shares: SK 33.6 billion (US$ 1.14 billion). The committee recommended Czech CEZ as second candidate with a bid of approximately SK 27.5 billion and the Russian RAO UES International was third with some SK 22 billion. Slovak industry minister Pavol Rusko will now reassess the three bidders' proposals and propose the final candidate to the Slovak cabinet in the next week.
(615.5639) Za Matku Zem (For Mother Earth) / WISE Amsterdam - 14 of the 15 committee members voted for Enel, one member from the SMER (middle-left opposition party) abstained because SMER is opposed to SE's privatization. Strangely enough, if SE will be "privatized" by the sale to Enel, it will remain a state-owned company - the Italian government still owns 51% of Enel shares (a next round of share sales is expected in November). The two other bidders are also (still) state-owned, CEZ by 67% and RAO UES International by 53% (through its mother company). CEZ will remain in state hands for the next two years, at least.
The completion of the two unfinished Mochovce 3 and 4 reactors played an important role in the process. The Slovak government has always viewed privatization as an opportunity to complete these two reactors. One of the conditions for potential buyers was the closure of the older Bohunice V1 reactors by 2006/2008 and completion of Mochovce-3 and -4 (see WISE/NIRS Nuclear Monitor 608.5597: "Nuclear relapse in Central Europe: Slovakia").
On 10 September, the day the privatization committee met, the Slovak parliament adopted another resolution that Mochovce should be completed. The three bidders confirmed interest in the completion. All investors must make their own study of completion profitability, according to which a decision to finish Mochovce can be made.
The whole process of SE privatisation is, in Za Matku Zem's opinion, unclear and strongly influenced by pro-nuclear lobbying groups. The push for completion of Mochovce 3 and 4 shows the strong influence of interest groups. It must also be note that minister Rusko has previously refused to publish two studies about the profitability of Mochovce completion.
Sources: Za Matku Zem, 14 September 2004; Hospodarske Noviny (CZ), 14 September 2004; SITA press agency, 10 September 2004; WNA News Briefing, 8-14 September 2004.
Contact: Siroky Pavol, Co-ordinator of the Project Energy, Za Matku Zem (For Mother Earth) PO Box 93, 814 99 Bratislava, Slovakia
Phone/Fax: +421 2 5542 2809
Email: bratislava@zmz.sk
Web: www.zmz.sk
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