High power prices are helping Slovenské elektrárne
Thanks to the recent growth in power prices, the EBITDA profit of power generator Slovenské elektrárne (SE) will increase by 50%, or by €140m this year, says Branislav Strýček, its CEO. The completion of the Mochovce nuclear power plant 3rd and 4th blocs will be delayed and the completion budget will swell from €5.4bn. Once up and running, SE’s annual cashflow will increase by €250m, and SE will be able to reduce its net debt from the current high level of 9-times EBITDA. SE is also investing into increasing the output of the first two Mochovce blocs. It will turn the Nováky power plant into a heating plant in 2023 and is analyzing what fuel to use (favorites are wood and gas). Similarly, SE is finalizing investment plans for its Vojany coal power plant.