Business News

Power Utility HSE Ups Production in 2010

Ljubljana, 24 May (STA) - Slovenia's biggest power producer, HSE Group, generated a record 8.4 TWh and sold 16TWh of electricity in 2010. The latter is a rise of 23% on the year before. Total revenues of the group stood at EUR 909m and net profit amounted to EUR 103m, HSE said after Tuesday's session of the supervisors.

The group said the first quarter of 2011 was just a strong results-wise, as plans had been exceeded. Sale of electricity was up 54% on the first quarter of 2010.

The robust results stem from growing exports and above-average production at its hydro-electric plants due to favourable water levels, HSE said.

Hydro-electric plants accounted for 36% of all electricity produced by HSE, contributing importantly to an increase in the share of renewable electricity production, the group added.

The HSE supervisors also reviewed key points of an amended investment plan for the new generator at the Termoelektrarna Sostanj coal-fired plant.

"The project of building a new generator is currently progressing in line with the set time frame and budget," chief supervisor Drago Dolinar said.

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