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
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