Power producer Dravske elektrarne posted EUR 19.55m in operating profit in 2006, slightly down on EUR 20.9m in 2005, according to unconsolidated data presented to the press on Thursday by director Damijan Koletnik.
A slight drop in the profits was the product of less favourable hydrological conditions, said Koletnik. He said the Drava river power producer expected similar results for 2007.
According to Koletnik, the company is also bracing for the liberalisation of the EU electricity market and will have to restructure, continue the already launched projects and search for new development opportunities.
One of the company's major investments is the EUR 63m renovation of Slovenia's largest hydroelectric power plant in Zlatolicje (NE). The project, slated to be completed in 2009, will enable the company to increase its output by 5%.
Another new project is a pumping hydro plant in Kozjak, a hilly region in NE Slovenia. The investment is estimated at EUR 200m, and is also part of the government resolution on development projects in Slovenia between 2007 and 2023.
Regarding the construction of a chain of power plants on the Mura River, Koletnik said that the company would carry out studies to determine their environmental impact.
He added that the construction would go ahead only if the project gets the support of the local population and the required clearances.
Koletnik is meanwhile not keen on a possible merger of Dravske elektrarne with its 100% owner power producer HSE. "Dravske elektrarne has to remain an independent legal entity, as the company belongs to the region, the Drava river and the population alongside it," he said.
Dravske elektrarne operates a chain of ten power plants on the Drava and Mura rivers with a total capacity of 577 MW. The power producer commands a 25.5% share of Slovenian electricity production with output totalling around 2,5 billion kWh per year.
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