A new nuclear power source in Slovakia, to be built by the American company Westinghouse, will mean a loss of €500 million per year for the Slovak economy, said opposition MP Igor Matovič from the Slovakia movement at a press conference on Wednesday. He also pointed to expected cost overruns, interest expenses, and a higher risk premium on national debt, which he claims will raise the total cost to €50 billion — compared to the originally planned €15 billion for the construction.
“Westinghouse builds nuclear plants in America. These sources are able to produce one megawatt-hour of electricity at €120, but on the market, you can buy electricity for the next ten years at €70 per megawatt-hour,” Matovič calculated. According to him, Prime Minister Robert Fico (Smer-SD) plans to sign a contract that would represent a loss of €50 on every single megawatt compared to the market price.
Matovič noted that Slovakia does not need a new nuclear source for its own energy needs. The electricity produced would be exported. However, the leader of the Slovakia movement questioned how the state expects to profit from such exports at those prices.
He also criticized the decision as unilateral, made by the prime minister without any public debate or analysis. “We are talking about a new nuclear source, and Fico, on his own accord, decided that there would be no public tender. No public discussion on this matter, especially about whether we need it and under what conditions,” Matovič emphasized.
Július Jakab from the Slovakia movement added that based on global examples, one can expect delays and cost overruns in the construction of the new nuclear source. These overruns, along with interest payments and the risk premium, could increase the total cost to €50 billion compared to the currently planned €15 billion investment. According to him, the project would burden Slovak citizens with debt for three generations.
Slovakia’s decision to partner with Westinghouse was confirmed on Sunday (July 20) by Minister of Economy Denisa Saková (Hlas-SD). “The intergovernmental agreement between Slovakia and the United States — I can announce — is already ‘jingled out,’ approved by the American side, the U.S. administration, and is currently with the European Commission,” Saková explained. She added that the contract itself could be signed at the beginning of 2027.
Source: TASR
