New Energy research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 04/11/2014 -- The energy sector will expand steadily in the short- and longer term. An expansion of Slovakia's nuclear capacity will drive generation, while a steady expansion of its manufacturing sector will drive consumption. By mid-decade, Slovakia should become a net exporter of energy. However, risks remain, such as interference in pricing by the government and the rising costs of the project to build two new reactors at the Mochovce nuclear power plant. Several major investments planned for the years ahead may experience delays or fail to materialise altogether.
Key Trends And Developments
- Overall power generation is forecast to rise by 6.2% in 2016 to 24.28 TWh, and by 19.1% over the next few years to 2023, on the back of strong growth in the generation of nuclear energy and rapid growth in non-hydro renewables.
- BMI forecasts only a minimal rise in the consumption of electricity in 2014 and 2015, but growth will quicken thereafter, averaging of 5.1% between 2014 and 2023.
- In January 2014, the German company E.ON sold a 40.45% stake in the gas storage and oil drilling company Nafta to the Czech-owned Energeticky a prumyslovy holding (EPH).
- In January 2014, Slovakia and Ukraine signed an agreement on the export natural gas by reversing the flow of the pipeline connecting Slovakia with Ukraine. The gas originates in Russia but will be imported from the EU before being exported on to Ukraine.
- In January 2014, Slovenske Elektrarne (SE) activated the Dobsina III hydropower plant, which is expected to generate 1,485MWh a year.
- In December 2013, discussions with the Russian company Rosatom about investment in the proposed expansion of the Bohunice nuclear power plant collapsed after the government refused to guarantee future purchasing prices of electricity.
- In December 2013, Slovakia took delivery of ten 'green machines' which generate fuel-free, emission-free power from low temperature waste heat and which will be deployed at the central district heating system.
- In December 2013, a study by the Slovak Technical University concluded that the country's transmission system was not ready to support the introduction of new renewable energy sources.
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