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Minister happy with ruling obliging Slovenia to pay HEP EUR 40m

ZAGREB, Dec 18 (Hina) - Croatian Economy Minister Ivan Vrdoljak said on Friday he was extremely pleased with an arbitral tribunal decision under which Slovenia must pay the Croatian power company HEP 40 million euros for undelivered electricity from the jointly owned nuclear power plant Krsko, adding that strategic companies and national interests could be protected like that if there was no other way.
He told reporters the decision "proves that Slovenia acted unlawfully" and that if there was no other way, strategic companies and national interests could be protected "through an arbitral tribunal... by hiring the best legal experts."

"This is only the first victory at the arbitral tribunal as far as HEP is concerned and we have several other very active arbitration proceedings where, with the help of the best lawyers, we will manage to protect Croatia's interest and the interest of citizens and strategic companies," Vrdoljak said.

The International Center for Settlement of Investment Disputes, based in Washington, on 17 December 2015 ruled that Slovenia must pay HEP in excess of EUR 40 million for electricity that was not delivered to it from the Krsko nuclear power plant in the period from 1 July 2002 to 19 April 2003, HEP said in a statement today.

The tribunal decided that Slovenia must pay damages in the amount of some EUR 20 million, plus interest, and US$ 10 million US to cover HEP's legal fees.

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