We’re not losing large amounts of money via Gabčíkovo Dam, says Prime Minister

Prime Minister Robert Fico informed Parliament on Tuesday that the state has definitely became the owner of VEG, meaning that the power plant will be operated by the state-owned Water Management Construction company. It used to be run under a rental contract by electricity utility Slovenské elektrárne (SE) owned by Italian company Enel. Fico called the rental contract disadvantageous for the state a number of times in the past. "Based on this agreement, the privatised SE was able to keep 35 percent of revenues from the hydroelectric power plant operations without any reason, a figure that with average yearly revenues of €100 million amounted to €35-40 million annually. As of the first second of today, however, the Slovak Republic has regained full control over the largest hydroelectric power plant in Slovakia, and I consider this decision to be of the utmost importance", said Fico in Parliament on Tuesday.