Krsko deal

30 August 2001

The Slovenian and Croatian governments have passed a draft agreement on the ownership structure, investments, distribution, waste management and decommissioning of the jointly-owned Krsko plant.

The agreement establishes a new joint stock company called NEK, formed from spin-offs of Croatian utility HEP and Slovenia’s ElesGen. The new company, due to start operation on 1 January 2002, will be registered as a 50-50 Slovenian-Croatian joint venture company, with no controlling share. Its six-person supervisory board will be evenly split, as will the executive board.

In August 1998, electricity deliveries to HEP were stopped. The agreement considers output of the 652MWe PWR unit from then until July 2002 as entirely Slovenian. Afterwards, Croatian liability begins and all output and costs will be shared equally. Recent modernisation costs will be borne by Slovenia.

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