State-owned SEPS had record profit
The state-owned power grid administrator SEPS improved its sales 16% last year to €420m. Its net profit jumped 30% to €74.3m. The increases stem from high cross-border power transmission, which produced record-breaking revenues for SEPS. This year, it expects lower revenues and profits from this activity. SEPS emphasizes that its high profit is not the cause of high power prices in Slovakia, since the cross-border power transmission accounted for 60% of its profit and was paid for by foreign companies. Fees SEPS charges for grid operation are set by the regulator, ÚRSO. In 2016, SEPS’ fees for power transmission and system services accounted for 9.4% of the final power price.
