Slovakia's national power utility Slovenské Elektrárne believes that its partial privatisation will be completed during the first part of 2004. The competitive bidding process for the purchase of 49 per cent of the utility was launched in August 2002. Preliminary bids are now being evaluated. However, there are certain conditions that have been imposed by the Slovak government, including the resolution of issues relating to the country's nuclear plants and the exclusion of the Gabcikovo hydro power plant from the privatisation process.
Issues that have to be addressed include the decommissioning of Bohunice A1, which continues to be funded by state money. Other issues are the closure of the two units at Bohunice V1, due to shut down in 2006 and 2008 respectively under the terms of the EU accession agreement, and the suspension of construction of Mochovce 3 and 4, although SE said a feasibility study demonstrated the effectiveness of unit completion.
SE said that there are two possible options for a final sale. One option would allow an investor to purchase 49 per cent of the utility's assets, leaving the remaining 51 per cent with the National Property Fund, which is the current owner.
A second option would be the sale of 49 per cent of assets in each of two new companies, a nuclear and non-nuclear division, which would be created by SE from its current structure.
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