Slovalco will begin restoring production in August
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Slovalco will begin restoring production in August after signing agreements yesterday under which the state committed to compensate the aluminum smelter for 35% of its emission allowance costs, grant a discount on its levy to the National Nuclear Fund, and have state-owned power plant VV supply electricity at production cost for ten years. Shareholders Norway's Hydro Aluminium (55%) and Penta (45%) will invest €130m in restarting production. They say the support is only enough to restart 100 of the smelter's 226 furnaces. VV will supply only part of the electricity, and Slovalco also has a 6-year contract with Slovenské elektrárne.
The government will begin providing large electricity consumers with emission allowance compensation worth €140m a year, up from €10m previously. (pravda.sk, dennikN.sk, trend.sk) Thanks to this support, ferroalloy producer OFZ (Vladimír Klocok) wants to run at half capacity next year; it currently has just one of its seven furnaces running.
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