Business News

Energy Sector Profit Down in 2013

Ljubljana, 27 July (STA) - Companies in the electricity, coal and gas sector posted a cumulative net profit of EUR 135m for 2013, down from EUR 156m in the year before. The majority of the companies closed in the black, with the cumulative loss of EUR 51m largely attributable to five firms, according to Infrastructure Ministry data.

The Velenje coal mine and the Trbovlje thermal power plant, both part of the HSE group, posted the biggest losses, EUR 29.8m and EUR 13.1m respectively after ending 2012 with negligible profit.

HSE, the biggest player on the Slovenian energy market, nevertheless ended the year with a net profit of almost EUR 69m, though this is still considerably worse than in 2012, when it exceeded EUR 100m.

The second largest energy group, Gen energija, which manages Slovenia's half of the Krško nuclear power plant and owns half of power distributor Gen-i, ended the year with a net profit of EUR 17.6m, marginally higher than in the year before.

The majority state-owned electricity distributors generated a combined net profit of EUR 37.9m, an year-on-year increase of 41%, with the transmission system operator Eles adding another EUR 8.7m.

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