Slovenia has appointed new leadership at state energy group GEN energija and electricity trader GEN-I, following a change in the country’s government. The incoming GEN chief, Andrej Vizjak, said work would continue on the planned Krško 2 nuclear project and the Mokrice hydropower scheme. The personnel changes place new executives at the centre of decisions affecting 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. The reshuffle follows the government transition and brings new management into roles tied to existing and planned generation assets.
Krško 2 and Mokrice remain on the agenda under new executives
GEN energija controls Slovenia’s stake in the existing Krško nuclear power plant and is leading work on a potential second unit, referred to as JEK2. Vizjak said development related to Krško 2 and the Mokrice hydropower project would continue. He also indicated that policy continuity is expected despite the management changes.
The continuation of both projects is accompanied by unresolved issues including financing, technology selection and construction timing. Krško 2 is described as central to Slovenia’s long-term adequacy strategy. The project would represent one of the largest generation investments in Southeast Europe if it proceeds.
Slovenia is reducing reliance on coal, while hydropower output remains exposed to rainfall variability. Existing nuclear generation provides a large share of stable domestic supply, according to the company’s stated role in the system. A second nuclear unit could replace part of firm capacity lost as coal declines while supporting rising electricity demand from electrification.
Nuclear construction is also described as carrying high capital and execution risk. The final economics are expected to depend on reactor technology, financing costs, construction duration and the revenue structure used to support the investment. These elements are becoming more significant as renewable alternatives become cheaper but require additional grids and storage.
Firm capacity choices and regional trading constraints
Alongside investment planning, Slovenia will need to determine how much firm generation it wants to secure domestically versus relying on regional trade. Its location between Italy, Austria, Hungary and Croatia provides interconnection for cross-border flows. However, recent market conditions have shown that neighbouring systems can become tight at the same time.
Mokrice is positioned as a different source of domestic flexibility within Slovenia’s power system. Additional hydro capacity can help manage renewable variability and respond to high-price periods. Development has been complicated by environmental and permitting issues.
Governance questions over GEN energija and GEN-I links
The leadership change also brings governance questions about how GEN energija relates to trader GEN-I within the group structure. Vizjak has indicated that a 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 markets, the immediate signal from the appointments is continuity rather than a shift in strategy. Incoming leadership is backing both nuclear and hydro development while Slovenia works through coal decline and increased reliance on flexible regional electricity trade. The most consequential decisions are expected later when GEN determines how to finance and structure Krško 2.
