CEZ, MOL put on hold plans to build 800MW gas-fired power plant in Slovakia.

By bne IntelliNews December 4, 2012
Czech state-owned power group CEZ and Hungary's oil and gas group MOL have frozen a project to build an 800MW combined cycle gas-fired power plant within the area of Slovak refinery Slovnaft, a subsidiary of MOL, CTK newswire reported. The delay was caused by the current unfavourable developments on the commodities markets, as natural gas prices are high, while electricity prices are low, and that makes the project not viable at the moment, Slovnaft spokesman Anton Molnar told CTK. He added that another problem is the capacity of the electricity transmission system between Slovakia and Hungary, which could not be able to handle the electricity produced by the new plant after the completion of other upcoming electricity generation sources. However, the project could be resumed if market conditions change, Molnar said. Slovakia is expected to produce in the near future significantly more electricity than the country consumes. This will happen after the commissioning of two new reactors at the Mochovce nuclear power plant with a total installed capacity of 880MW that are being built by Slovak power company Slovenske Elektrarne (SE), majority owned by Italy's energy group Enel. The third block is expected to be put into operation by the end of 2013 and the fourth block should be ready by mid-2014.
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