Slovak government plans to tax nuclear power plants, owners threaten bankruptcy – EURACTIV.com

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“Excess profits” from nuclear power plants should be taxed as it would open up millions to offset soaring energy prices, the economy ministry has said. But Slovenské elektrárne as, owner of the two Slovak nuclear power plants, says the bill would cause the private company to file for bankruptcy.

The government has already agreed on a proposal and sent it to parliament to ask for a shortened legislative procedure. “The proposal introduces an excessive profit tax for trading in electricity produced by nuclear installations. The tax period will be one calendar month,” the ministry writes in an explanatory report.

According to the bill, excess profit is a difference between market prices for electricity and expenses for their production at nuclear power plants. If parliament approves the bill, the state will receive half of this difference. This year, it would be around 50 million euros.

Slovenské elektrárne claims this is much higher than their supposed profit. According to the company, the adoption of such a law without any impact analysis will lead to bankruptcy and halt the completion of the third and fourth blocks of the Mochovce nuclear power plant.

“A total investment of six billion euros would be wasted,” the company said in a statement.

Slovenské elektrárne as is a company owned by EPH of Czech billionaire Daniel Křetínský and Italian energy giant Enel. Together they own two-thirds of the shares, with the rest belonging to the Slovak Ministry of Economy.

(Michal Hudec | EURACTIV.sk)

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