Power Utility SE Paying First Dividends, Contributing €170 mn to State Coffers

Bratislava, 19 December (TASR) - The shareholders of the largest electricity producer in Slovakia, Slovenske elektrarne (SE), decided to pay dividends at their general meeting held on Tuesday (16 December), thus contributing a significant amount of some €170 million to the state treasury at the end of the year, TASR learned from SE spokesperson Lenka Sarlakova on Friday. The state controls a 34-percent stake in the power utility, and its shareholder rights are exercised by the Economy Ministry. The remainder, 66 percent, is owned by Slovak Power Holding B.V., which belongs to Czech energy group Energeticky a Prumyslovy Holding (EPH). "Following EPH's entry into SE and the successful launch of the third unit at the Mochovce nuclear power plant in 2023, the company started reducing its level of debt, achieving a financial position that allows it to pay dividends to shareholders. In addition to taxes, we'll contribute €170 million to the state budget in dividends," said Slovenske Elektrarne head Branislav Strycek. "Thanks to completing the work on Mochovce, we're bringing greater energy security, cleaner air and a guaranteed price of baseload electricity for household suppliers," he added. This is the first dividend payment in the company's history since it was privatised in 2006. Shareholders will receive dividends totalling €500 million from retained profits. Until now, SE has reinvested all profits primarily into the construction and completion of the third and fourth reactor blocks at the Mochovce nuclear power plant, with the total costs of this strategic project making up the largest private investment in Slovakia reaching €6.6 billion. In 2022, SE signed a memorandum with the state allowing household electricity suppliers to purchase baseload electricity from SE at prices significantly below market levels. Between 2023 to 2025, this accounted for unrealised revenues of around €2.4 billion, thus protecting households and other protected customers from big price hikes. Enjoying more than a 60-percent share of total electricity generation in Slovakia, SE has been producing all its electricity without direct CO2 emissions since the last coal-fired power plant was shut down in 2024. The company currently operates five nuclear units, 31 hydroelectric power plants and two photovoltaic power plants. jrg/df