2013-02-19 10:16:15 - New Energy research report from Business Monitor International is now available from Fast Market Research
BMI View: Thanks to anticipated subdued demand growth during 2013, coupled with some supply expansion, Slovakia should further reduce its net power import requirement. The growth in nuclear capacity from around 2013/14 should diminish the country's reliance on imported gas as a fuel for power generation, and Slovakia will also scale back the use of coal and oil.
Unlike many countries in the wake of the Japanese earthquake and tsunami in February 2011, Slovakia appears to have few reservations over its reliance on nuclear power generation. In November 2012 the country's Economy Minister Tomas Malatinsky stated that Slovakia will continue to rely on nuclear energy for the foreseeable future, with nuclear energy contributing significantly to the country's energy independence. This stance
has been reinforced by a report released in December 2012 by the Slovak Technical University, which showed that the power grid is currently not ready for the construction of renewable energy sources, or other new sources of power.
Full Report Details at
Key trends and developments in the Slovak electricity market:
* Italian utility company Enel is committed to investing US$3.8bn in Slovakia's power sector. The majority will go towards the EMO Mochovce nuclear power plant, which is estimated to cost US$3.58bn. Two new nuclear power reactors, known as Mochovce 3 and 4, are expected to be completed by 2014 and will add 880 megawatts (MW) of capacity. The government is considering the construction of a new nuclear power plant in Jaslovske Bohunice, in place of the decommissioned NPP V1 plant.
* During the period 2013-2021, Slovakia's overall power generation is expected to increase by an annual average of just 0.9%, reaching 29.5 terawatt hours (TWh). Average annual gains of 0.4% and 2.4% in gas-fired and nuclear generation respectively will drive this growth, with supply from non-hydro renewables to grow by almost 10.6% per annum.
* Following an estimated 2.5% increase in real GDP in 2012, BMI forecasts average annual growth of 3.1% between 2013 and 2021. The population is expected to rise only slightly, from 5.5mn in 2013 to 5.6mn in 2021, with net power consumption looking set to increase from 26.7TWh to 27.9TWh. During the period, the average annual growth rate for electricity demand is forecast at just 0.5%, though risks to this forecast are to the upside as the economic climate improves.
* Thanks partly to the forecast rise in net generation, growth of which exceeds the underlying demand trend, Slovakia's power supply shortfall should decline steadily. A lower percentage of transmission and distribution losses will help strengthen the market. The net import requirement could have been eradicated by 2016 and could be transformed into potential net exports of more than 0.3TWh by the end of the forecast period if capacity is expanded in line with forecasts.
* Average electricity prices for all customer segments in the Slovak Republic are above those of many regional peers. In May 2012, according to data from the European Energy Portal, the average household electricity price - 3,500 kilowatt hours (kWh) per annum consumption - in Slovakia was EUR0.1677/kWh compared with EUR0.1488/kWh in Poland, EUR0.1480/kWh in the Czech Republic, EUR0.2541/kWh in Germany, EUR0.1708/kWh in Hungary, EUR0.2031/kWh in Italy and EUR0.1419/kWh in the UK.
Report Table of Contents:
- Slovakia Power SWOT
Regional Industry Overview
Industry Forecast Scenario
- Slovakia Macroeconomic Snapshot
- Table: Country Snapshot: Economic And Demographic Data
- Table: Country Snapshot: Power Sector
- Slovakia Forecast Scenario
- Electricity Generation And Power Generating Capacity
- Table: Slovakia Total Electricity Generation Data And Forecasts, 2010-2017
- Table: Slovakia Total Electricity Generation Long-Term Forecasts, 2014-2021
- Table: Slovakia Electricity Generating Capacity Data And Forecasts, 2010-2017
- Table: Slovakia Electricity Generating Capacity Long-Term Forecasts, 2014-2021
- Electricity Consumption
- Table: Slovakia Total Electricity Consumption Data And Forecasts, 2010-2017
- Table: Slovakia Total Electricity Consumption Long-Term Forecasts, 2014-2021
- Transmission & Distribution, Imports & Exports
- Table: Slovakia Electric Power Transmission And Distribution Losses Data And Forecasts, 2010-2017
- Table: Slovakia Electric Power Transmission And Distribution Losses Long-Term Forecasts, 2014-2021
- Table: Slovakia Trade Data And Forecasts, 2010-2017
- Table: Slovakia Trade Long-Term Forecasts, 2014-2021
Key Policies/Market Structure
- Regulation And Competition
- Table: Electricity Prices In The EU Member States, As Of May 2012
- Central And Eastern Europe Regional Power Risk/Reward Ratings
- Table: Central And Eastern Europe Power Risk/Reward Ratings
- Slovakia Power Risk/Reward Ratings
- Slovak Electric (EC)
Glossary of Terms
- Table: Glossary of Terms
Methodology And Sources
- Industry Forecasts
- Power Industry - Data Methodology
- Generation and Consumption Data
- Electricity Generation Capacity Data
- Power Risk/Reward Ratings Methodology
- Table: Power Risk/Reward Indicators
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