Slovenia pays Croatian provider EUR 42m for undelivered electricity

Slovenia has already paid Croatian power utility HEP the EUR 42 million owed under an International Centre for Settlement of Investment Disputes ruling for electricity that was not delivered to it from the jointly-owned Krsko nuclear power plant in Slovenia from July 2002 to April 2003, the Slovenian Finance Ministry said on Thursday.

The payment was made on Tuesday to avoid additional interest expenses, the ministry said. "The dispute dragged on for a dozen years and, since interest is paid on the damages, it was appropriate that we paid as soon as possible so that interest did not accumulate," a press release said.

Part of the money came from the budgetary reserves of the environmental ministry and part through the reallocation of other ministries' unused funds.

The Slovenian government adopted a conclusion on Tuesday under which it will seek reimbursement for the funds paid HEP from Slovenian energy companies which exported or sold domestically the electricity that was not delivered to the Croatian company.

The International Centre for Settlement of Investment Disputes, based in Washington, on 17 December 2015 ruled that Slovenia must pay HEP 42 million euros for electricity that was not delivered to it from the Krsko nuclear power plant in the period from 1 July 2002 to 19 April 2003.

Last update: Thu, 31/12/2015 - 17:21

More from Europe

Parliament backs Brexit timetable after May's concession on plan

British lawmakers backed Prime Minister Theresa May's timetable for Brexit negotiations by a large majority late...

Renzi quits as prime minister, leaving Italy in political quagmire

Italy was plunged into fresh political turmoil Wednesday, as Prime Minister Matteo Renzi resigned after complying...

NATO strongly supports Ukraine's integrity, says Croatian FM

NATO strongly supports Ukraine's territorial integrity and the European Union's sanctions against Russia will remain...

Three detained in France for connection to police killings

Three men have been detained in France for their suspected links to Larossi Abballa, the extremist who killed two...

Political veteran Doris Leuthard elected Swiss president for 2017

Centre-right politician Doris Leuthard will serve as Swiss president next year, the parliament decided Wednesday in...