Slovenia’s fund for the future decommissioning of the Krško nuclear power plant generated €39.6 million of revenue in 2025 and delivered an annual investment return of 4.26%.
The market value of its portfolio reached €260.35 million, an increase of 2.5% from 2024. After expenses, the fund reported a surplus of €2.56 million.
Established in 1994, the fund finances Slovenia’s share of dismantling Krško and managing radioactive waste and spent nuclear fuel. Slovenia and Croatia jointly own the plant and are each responsible for half of the long-term obligations through separate national funding arrangements.
The Slovenian fund is primarily financed through mandatory payments by GEN Energija, which contributes €0.012 for every kWh of electricity received from Krško. Contributions reached just under €33.3 million in 2025, with a similar amount expected during 2026. Payments exceeded €9 million in the first quarter of 2026.
Croatia’s fund held assets worth €466.8 million at the end of 2025, substantially more than the Slovenian portfolio. Croatia finances its obligations through quarterly payments from state-owned utility HEP, which contributed €7.52 million during the year.
The difference between the two portfolio values does not independently establish which country is better funded. The adequacy of each fund depends on updated decommissioning-cost estimates, expected plant life, future investment returns, radioactive-waste arrangements and the timing of expenditures.
Investment performance remains important because decommissioning liabilities extend over decades. Even modest changes in long-term returns can materially affect the contribution burden placed on GEN Energija, HEP and ultimately electricity consumers. Conversely, portfolios designed too aggressively can introduce market risk into funds that must remain available regardless of financial conditions when decommissioning begins.
Krško’s operating-life decisions also influence the funding requirement. A longer operating period gives both funds more time to accumulate assets but can add maintenance, waste-management and final dismantling obligations.
The 4.26% Slovenian return strengthens the portfolio in nominal terms, although it does not remove the need for regular liability assessments. The central issue is the relationship between accumulated assets and the latest engineering estimate of the full decommissioning and waste-management cost.
