Slovenia: Slovenia to compensate payment to HEP with dividends

, SEE Energy News

Slovenian Ministries of Infrastructure and Finance have made a proposal and the Government approved that the payment of 42 million euros made to Croatian power utility HEP for the lost arbitration over electricity supply from nuclear power plant Krsko will be compensated by the end of June with dividends of energy companies which benefited from the electricity that was supposed to be delivered to Croatia.

That electricity was redeemed by Eles Gen, which later forwarded it to HSE, and according to the Head of GEN-I Robert Golob, Slovenia made a profit in the amount of some 10 million euros. On 30 December 2015, Slovenia has paid from the state budget the amount of 10 million dollars and 32.8 million euros to HEP, and additional 1.1 million euros in 2016.

This payment was made in accordance with the judgment of the International Center for Settlements of Investment Disputes (ICSID) for undelivered electricity from NPP Krsko in the period between 1 July 2002 and 19 April 2003. The majority of payment was made by the end of 2015 in order to avoid additional interest, transmits