Slovenia’s fund set up for the future decommissioning of the Krško nuclear power plant generated €39.6 million in revenue in 2025 and recorded an annual investment return of 4.26%. The fund’s portfolio market value reached €260.35 million, up 2.5% from 2024. After expenses, it reported a surplus of €2.56 million.
Funding arrangements for Slovenia’s share of Krško obligations
Established in 1994, the Slovenian fund supports Slovenia’s share of dismantling Krško and handling radioactive waste and spent nuclear fuel. Slovenia and Croatia jointly own the plant, with each country responsible for half of the long-term obligations under separate national funding arrangements. The financing structure links contributions to electricity received from Krško.
The Slovenian fund is primarily funded through mandatory payments by GEN Energija. GEN Energija contributes €0.012 for every kWh of electricity received from Krško. Contributions reached just under €33.3 million in 2025, with a similar level expected during 2026.
Payments to the Slovenian fund exceeded €9 million in the first quarter of 2026. This payment schedule is part of how accumulated assets build over time alongside decommissioning planning requirements.
Croatia’s larger portfolio and quarterly state utility payments
Croatia’s fund held assets worth €466.8 million at the end of 2025, substantially above the Slovenian portfolio value. Croatia finances its obligations through quarterly payments from state-owned utility HEP. HEP contributed €7.52 million during 2025.
The size difference between the two portfolios does not on its own indicate which country is better funded. The adequacy of each fund depends on updated decommissioning-cost estimates, expected plant life, future investment returns, radioactive-waste arrangements, and when expenditures are due.
Investment returns and operating-life decisions affecting contribution needs
Investment performance is relevant because decommissioning liabilities extend over decades. Even modest changes in long-term returns can affect the contribution burden on GEN Energija, HEP, and ultimately electricity consumers. At the same time, portfolios structured too aggressively can add market risk to funds that must remain available when decommissioning begins.
Krško operating-life decisions also influence the funding requirement for both national arrangements. A longer operating period provides more time to accumulate assets but can increase maintenance, waste-management, and final dismantling obligations.
The Slovenian fund’s 4.26% return strengthens its portfolio in nominal terms, but it does not remove the need for regular liability assessments. The key reference point is the relationship between accumulated assets and the latest engineering estimate of full decommissioning and waste-management cost.
