Slovenské elektrárne is reducing its debt burden
The current drop in electricity prices in the EU is caused by low demand in industry, warns Branislav Strýček, CEO of Slovenské elektrárne. Consumption has been falling since 2022 and was 15% lower annually in February. SE sells electricity for three years in advance, so the current price fluctuations have no immediate impact. Following Mochovce’s completion, SE is considering other projects―the Ipeľ pumped storage power plant, the modernization of hydro power plants, or the extension of the lifetime of nuclear power plants to 80 years. It is reducing debts fast, to €3.8bn in February from €4.2bn in December 2022. It wants to refinance the entire debt at lower rates and extend maturity. Last year it posted a high profit. US nuclear fuel from Westinghouse will replace the current Russian nuclear fuel in 2027.
