Slovenia has appointed new leadership at state energy group GEN energija and electricity trader GEN-I, following a change in the country’s government. Andrej Vizjak, incoming chief executive at GEN energija, said work on the planned Krško 2 nuclear project and the Mokrice hydropower scheme would continue. The management changes place new executives at the centre of decisions over major prospective energy investments.
GEN energija’s supervisory board appointed former minister Andrej Vizjak as chief executive for a four-year term. Jure Soklič was named to lead GEN-I. GEN energija controls Slovenia’s stake in the existing Krško nuclear power plant and is leading work on a potential second unit, commonly referred to as JEK2.
Krško 2 and Mokrice development priorities under new executives
Vizjak said the Krško 2 and Mokrice hydropower projects will proceed with continued work. The planned second unit is described as one of the largest generation investments in Southeast Europe if it moves forward. Project financing, technology selection and construction timing remain unresolved.
Krško 2 is positioned within Slovenia’s long-term adequacy strategy. The country is reducing reliance on coal, while hydropower output is exposed to increasingly volatile rainfall. Existing nuclear generation provides a large share of stable domestic supply.
A second unit could replace part of the firm capacity expected to be lost as coal generation declines, while supporting rising electricity demand linked to electrification. New nuclear construction, however, carries high capital and execution risk. Final economics are expected to depend on reactor technology, financing costs, construction duration and the revenue structure used to support the investment.
Coal decline, renewables variability and regional power flows
Questions around investment economics are becoming more important as renewable alternatives become cheaper but require additional grids and storage. Slovenia will also need to decide how much firm generation it wants to secure domestically versus relying on regional trade. Its position between Italy, Austria, Hungary and Croatia supports interconnection.
Recent market conditions have shown that neighbouring systems can become tight simultaneously. Mokrice is presented as a different form of domestic flexibility for managing renewable variability and responding to high-price periods. Development has been complicated by environmental and permitting issues.
Governance issues across GEN energija and GEN-I
The leadership change also raises governance questions about the relationship between GEN energija and trader GEN-I. Vizjak indicated that the circular cross-ownership structure between GEN energija and GEN-I should be addressed . Any restructuring could affect capital allocation and how generation, trading and investment risks are managed across the group.
For the market, the immediate signal is continuity rather than a change in strategy . Incoming leadership is backing both nuclear and hydro development while Slovenia works through coal decline and greater reliance on flexible regional electricity trade. More consequential decisions are expected later when GEN determines how to finance and structure Krško 2.
