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Page 1: GDPE0667ICR Slovakia Power Market Outlook to …7.4.1 Slovakia, Power Market, Import/Export Scenario..... 40 7.5 Slovakia, Power Market, Wholesale Electricity Market ..... 41 8 Slovakia,

Slovakia Power Market Outlook to 2030 Market Trends, Regulations and Competitive Landscape

GDPE0667ICR / Published May 2013

Page 2: GDPE0667ICR Slovakia Power Market Outlook to …7.4.1 Slovakia, Power Market, Import/Export Scenario..... 40 7.5 Slovakia, Power Market, Wholesale Electricity Market ..... 41 8 Slovakia,

Slovakia Power Market Outlook to 2030 - Market Trends, Regulations and Competitive Landscape

GDPE0667ICR / Published MAY 2013 Page 2

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Thermal Capacity Dominates Power Mix

The power generation capacity in Slovakia is led by thermal power, which accounted for XX% of the cumulative installed capacity in 2012. Gas-fired and coal-fired power plants dominated the country’s thermal installed capacity, with shares of XX% and XX% respectively. Thermal capacity increased from XX Megawatts (MW) in 2000 to XX MW in 2012, at a Compound Annual Growth Rate (CAGR) of XX%. However, with the introduction of additional nuclear power plants, thermal’s dominance in the Slovakia power mix is expected to reduce in future.

Power Market, Slovakia, Cumulative Installed Capacity by Type of Power Plant (%), 2012

Thermal

Hydro

Nuclear

Renewable

Source: GlobalData; Power eTrack, Capacity and Generation Database [Accessed on: March 22, 2013]

Continued Growth in Power Generation

Power generation in Slovakia increased from XX Gigawatt hours (GWh) in 2000 to XX GWh by 2012, at a CAGR of XX%. The power generation had been increasing up to 2006 but was negatively affected due to the closure of nuclear power plants that did not meet EU standards in 2006 and 2008. However, during the forecast period 2013 to 2030, generation is expected to increase, in order to satisfy the steadily increasing demand for electricity. This increase in power demand can be attributed to the increasing use of household appliances, as well as increasing population and industrialization.

Power Market, Slovakia, Annual Total Generation (GWh) 2000-2012

2000 2006 2012

Ann

ual p

ower

gen

erat

ion

(GW

h)

Source: GlobalData; Power eTrack, Capacity and Generation Database [Accessed on: March 22, 2013]

Focus on Clean Energy for the Future

Slovakia has traditionally used thermal fuel sources to generate its electricity, which has not only increased the use of its thermal fuel reserves, but has also increased greenhouse gas emissions. The country is now actively augmenting its energy generation capacity through clean energy sources such as hydropower and other renewables. To achieve its goal of renewable sources contributing XX% of the total energy consumption by 2020, the government has formulated numerous pieces of legislation, and is actively promoting renewable energy development. The government is also providing various incentives and benefits to developers of renewable power plants, in order to promote clean sources of energy for future electricity generation. These include Feed-in Tariffs (FiTs), tax exemptions and other incentives.

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1 Table of Contents 1 Table of Contents ............................................................................................................................ 3

1.1 List of Tables ............................................................................................................................. 5 1.2 List of Figures............................................................................................................................ 5

2 Introduction ..................................................................................................................................... 7 2.1 GlobalData Report Guidance ..................................................................................................... 8

3 Slovakia, Snapshot of Power Market ................................................................................................ 9 3.1 Macro Economic Factors ........................................................................................................... 9 3.2 Supply Security ....................................................................................................................... 10 3.3 Generation Infrastructure ......................................................................................................... 11 3.4 Transmission Infrastructure ...................................................................................................... 11 3.5 Opportunities ........................................................................................................................... 11 3.6 Challenges .............................................................................................................................. 11

4 Slovakia, Power Market Analysis .................................................................................................... 12 4.1 Slovakia, Power Market, Supply Structure: ............................................................................... 12 4.2 Slovakia, Power Market, Key Players ....................................................................................... 12 4.3 Slovakia, Power Market Financial Performance ........................................................................ 12

4.3.1 Key Financial Ratios and Inference ................................................................................. 12 4.4 Power Market, Slovakia, Deal Volume and Value Analysis, 2004-2012...................................... 14 4.5 Slovakia, Power Market, Demand Structure.............................................................................. 15

4.5.1 Power Market, Power Consumption by Sector, 2012 ........................................................ 17 5 Slovakia, Power Market, Regulatory Overview ................................................................................ 18

5.1 Slovakia Energy Efficiency Policy ............................................................................................. 18 5.2 Slovakia, Renewable Energy Policy ......................................................................................... 18

5.2.1 Recent Development ...................................................................................................... 19 5.2.2 Feed In Tariffs ................................................................................................................ 19

6 Slovakia, Power Market, Capacity and Generation Overview ........................................................... 20 6.1 Installed Capacity, Breakdown by Type of Power Plant, 2012 ................................................... 20 6.2 Cumulative Installed Capacity and Annual Generation, 2000-2030 ............................................ 21 6.3 Thermal Installed Capacity and Generation, 2000-2030 ............................................................ 24 6.4 Hydropower Installed Capacity and Generation, 2000-2030 ...................................................... 28 6.5 Renewable Power Installed Capacity and Generation, 2000-2030 ............................................. 31 6.6 Nuclear Installed Capacity and Generation, 2000-2030 ............................................................. 33

7 Slovakia, Power Market, Transmission and Distribution Overview ................................................... 36 7.1 Slovakia, Power Market, Transmission Network Overview ........................................................ 36 7.2 Slovakia, Transmission Network, Development Plan ................................................................. 37 7.3 Slovakia, Power Market, Distribution Network Overview............................................................ 38 7.4 Slovakia, Power Market, Grid Interconnection........................................................................... 39

7.4.1 Slovakia, Power Market, Import/Export Scenario .............................................................. 40 7.5 Slovakia, Power Market, Wholesale Electricity Market .............................................................. 41

8 Slovakia, Power Market, Snapshot of Leading Power Generating Company .................................... 42 8.1 Slovakia, Power Market, Key Company: Slovenske Elektrarne .................................................. 42

8.1.1 Slovenske Elektrarne Company Overview ....................................................................... 42 8.1.2 Slovenske Elektrarne, Business Description .................................................................... 42 8.1.3 Slovenske Elektrarne, SWOT Analysis ............................................................................ 43

9 Appendix ....................................................................................................................................... 46 9.1 Market Definitions .................................................................................................................... 46

9.1.1 Power............................................................................................................................. 46 9.1.2 Installed Capacity ........................................................................................................... 46 9.1.3 Active Installed Capacity ................................................................................................. 46 9.1.4 Electricity Generation ...................................................................................................... 46 9.1.5 Electricity Consumption................................................................................................... 46 9.1.6 Thermal Power Plant ...................................................................................................... 46 9.1.7 Hydropower Plant ........................................................................................................... 46 9.1.8 Nuclear Power ................................................................................................................ 46 9.1.9 Renewable Energy Resources ........................................................................................ 46

9.2 Abbreviations .......................................................................................................................... 47 9.3 Bibliography ............................................................................................................................ 47 9.4 GlobalData’s Methodology ....................................................................................................... 48

9.4.1 Coverage ....................................................................................................................... 48

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9.4.2 Secondary research and analysis .................................................................................... 49 9.4.3 Primary Research and Analysis ....................................................................................... 49

9.5 Contact Us .............................................................................................................................. 49 9.6 Disclaimer ............................................................................................................................... 50

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1.1 List of Tables Table 1: Power Market, Slovakia, Trends in GDP ($bn), Population (Millions) and Annual Power

Consumption (GWh), 2007-2017 ......................................................................................... 10 Table 2: Power Market, Slovakia, Key Financial Ratios of Leading Power Generating Companies, 2011

.......................................................................................................................................... 13 Table 3: Power Market, Slovakia, Deal Value ($m) and Deal Volume, 2004-2012 ............................... 14 Table 4: Power Market, Slovakia, Annual Power Consumption (GWh), 2000-2030 ............................. 16 Table 5: Power Market, Slovakia, Breakdown of Electricity Consumption, by Sector (%), 2012

(Estimated) ......................................................................................................................... 17 Table 6: Power Market, Slovakia, Feed in Tariffs, 2012 ..................................................................... 19 Table 7: Power Market, Slovakia, Cumulative Installed Capacity by Type of Power Plant (%), 2012 .... 20 Table 8: Power Market, Slovakia, Cumulative Installed Capacity (MW) and Annual Power Generation

(GWh), 2000-2030 .............................................................................................................. 23 Table 9: Power Market, Slovakia, Leading Thermal Power Plants 2012 ............................................. 25 Table 10: Power Market, Slovakia, Cumulative Thermal Installed Capacity (MW) and Annual Power

Generation (GWh), 2000-2030 ............................................................................................ 27 Table 11: Power Market, Slovakia, Leading Thermal Power Plants, 2012 ............................................ 28 Table 12: Power Market, Slovakia, Cumulative Hydropower Installed Capacity (MW) and Annual Power

Generation (GWh), 2000-2030 ............................................................................................ 30 Table 13: Power Market, Slovakia, Cumulative Renewable Installed Capacity (MW) and Annual Power

Generation (GWh), 2000-2030 ............................................................................................ 32 Table 14: Power Market, Slovakia, Upcoming Nuclear Power Plants 2012 ........................................... 33 Table 15: Power Market, Slovakia, Cumulative Nuclear Installed Capacity (MW) and Annual Power

Generation (GWh), 2000-2030 ............................................................................................ 35 Table 16: Power Market, Slovakia, Length of Transmission Network by Voltage (Ckm), 2000-2020 ..... 36 Table 17: Power Market, Slovakia, Length of Distribution Network by Voltage (Ckm), 2000-2020 ......... 38 Table 18: Power Market, Slovakia, Total Annual Imports and Exports (GWh), 2000-2011 ..................... 40 Table 19: Slovenske Elektrarne, SWOT Analysis ................................................................................ 43 Table 20: Abbreviations ...................................................................................................................... 47

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1.2 List of Figures Figure 1: Power Market, Slovakia, Trends in GDP ($bn), Population (millions) and Annual Power

Consumption (GWh), 2007-2017 ........................................................................................... 9 Figure 2: Power Market, Slovakia, Deal Value ($m) and Deal Volume, 2004-2012 ............................... 14 Figure 3: Power Market, Slovakia, Annual Power Consumption (GWh), 2000-2030 ............................. 15 Figure 4: Power Market, Slovakia, Breakdown of Electricity Consumption, by Sector (%), 2012

(Estimated) ......................................................................................................................... 17 Figure 5: Power Market, Slovakia, Cumulative Installed Capacity by Type of Power Plant (%), 2012 .... 20 Figure 6: Power Market, Slovakia, Cumulative Installed Capacity (MW) and Annual Power Generation

(GWh), 2000-2030 .............................................................................................................. 22 Figure 7: Power Market, Slovakia, Cumulative Thermal Installed Capacity (MW) and Annual Power

Generation (GWh), 2000-2030 ............................................................................................ 26 Figure 8: Power Market, Slovakia, Cumulative Hydropower Installed Capacity (MW) and Annual Power

Generation (GWh), 2000-2030 ............................................................................................ 29 Figure 9: Power Market, Slovakia, Cumulative Renewable Installed Capacity (MW) and Annual Power

Generation (GWh), 2000-2030 ............................................................................................ 31 Figure 10: Power Market, Slovakia, Cumulative Nuclear Installed Capacity (MW) and Annual Power

Generation (GWh), 2000-2030 ............................................................................................ 34 Figure 11: Power Market, Slovakia, Total Annual Imports and Exports (GWh), 2000-2011 ..................... 40

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2 Introduction Slovakia is a well-developed country and has witnessed considerable reforms since its separation from the Czech Republic in 1993. The country has a parliamentary democratic form of government where the people elect a representative leader and the power is held by its people. It is a member of international organizations such as the United Nations, the North Atlantic Treaty Organization, the Nuclear Suppliers Group and the United Nations Industrial Development Organization. Slovakia became a member of the European Union (EU) in 2004, and since its accession as an EU member has seen an increase in economic reforms.

Slovakia achieved an estimated Gross Domestic Product (GDP) of $XX billion - at current prices - in 2012, and is expected to register a GDP growth rate of around XX% for the same year. The services sector is expected to contribute the majority share of 2012 GDP with XX%, followed by the industrial sector with XX% and the agricultural sector with XX%. In Slovakia, the economy is driven through foreign investments, mainly in the automobile and electronics sectors. The government also supports these foreign investments by providing a business-friendly environment, as well as skilled and cheap labor. However, this dependence on foreign markets means the country’s GDP growth is adversely affected by unfavorable volatilities in the international market. For example, the global financial crisis in 2008 had a negative impact on the country’s economy, due to reduction in foreign demand and reduced foreign investments. The economy also slowed down further in 2012, due to the European debt crisis.

Slovakia currently does not have sufficient natural resources to support its energy demands and, as a result, imports thermal fuels for its domestic needs. Specifically, it imports a large volume of coal and natural gas to meets its fossil fuel requirements. Slovakia’s dependence upon fossil fuel imports is adding to the country’s expenditure, which has resulted in increased electricity prices.

The power sector of Slovakia has been fully liberalized since 2007 and private participation is encouraged. Italy-based ENEL group has a dominant share of XX% in the leading power generation utility in the country, Slovenske Elektrarne (Slovenske).

As per EU directives, Slovakia has set up the National Renewable Energy Action Plan (NREAP) to support the growth of renewable resources. The government is hoping that renewable energy can be developed sufficiently to contribute a XX% share of total energy consumption by 2020. The country has good wind, hydropower, biomass and geothermal potential, which the government is looking to exploit. However, it is unlikely that Slovakia will be able to meet this renewable target, as its transmission system will not be able to support the increased power available for supply. Therefore the government is currently focusing on improving the country’s transmission system.

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2.1 GlobalData Report Guidance The report opens with an executive summary capturing key growth trends in Slovakia’s power

market.

Chapter three provides a snapshot of Slovakia’s power market.

Chapter four provides a market analysis, including the supply and demand structure of the Slovakia power market.

Chapter five provides a brief description of the prominent policies influencing the future of the power market.

Chapter six provides information regarding cumulative capacity and power generation information, as well as segmentation according to source of energy from 2000 to 2012, with forecasts to 2030. It also includes details of leading active and upcoming power plants, differentiated according to source of energy

Chapter seven provides information on the power infrastructure in Slovakia, as well as existing and planned developments in transmission and distribution infrastructure, and cross-country interconnections.

Chapter eight provides complete descriptions and SWOT analyses of the leading power generating companies.

Note: From 2012 onwards this report provides actual or estimated data depending upon information available at the time of writing the report.

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4.5 Slovakia, Power Market, Demand Structure The country’s steady economic growth, improved standard of living and increased industrial development have led to a growth in the consumption of electricity. Electricity consumption in Slovakia was estimated to be XX GWh in 2012, compared with XX GWh in 2000, growing at a CAGR of XX%. However, during the forecast period 2013 to 2030, electricity consumption is expected to grow at a CAGR of XX%, increasing from XX GWh to XX GWh.

Figure 3: Power Market, Slovakia, Annual Power Consumption (GWh), 2000-2030 20

00

2002

2004

2006

2008

2010

2012

2014

2016

2018

2020

2022

2024

2026

2028

2030

Ann

ual p

ower

con

sum

ptio

n (G

Wh)

Source: GlobalData; Power eTrack, Consumption Database [Accessed on March 22, 2013]

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Table 4: Power Market, Slovakia, Annual Power Consumption (GWh), 2000-2030 Year Consumption (GWh)

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

Source: GlobalData; Power eTrack, Consumption Database [Accessed on March 22, 2013

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4.5.1 Power Market, Power Consumption by Sector, 2012 The industrial sector accounted for the highest share of total electricity consumption in 2012, with an estimated share of XX%. The service sector accounted for the next highest share, at an estimated XX%. The residential sector was next, with a share of XX%, followed by other sectors at XX%.

Figure 4: Power Market, Slovakia, Breakdown of Electricity Consumption, by Sector (%), 2012 (Estimated)

Industrial

Service

Residential

Others

Source: GlobalData; Eurostat 2012

Table 5: Power Market, Slovakia, Breakdown of Electricity Consumption, by Sector (%), 2012 (Estimated)

Sectors Percentage (%)

Industrial

Service

Residential

Others

Source: GlobalData; Eurostat 2012

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9 Appendix 9.1 Market Definitions The geographical coverage of the report is Slovakia. The report covers market segments related to installed electricity capacity, generation, consumption, power infrastructure and power regulations. The report covers the whole of Slovakia for a quantitative and qualitative assessment of its power market.

9.1.1 Power The rate of production, transfer, or energy use, usually related to electricity. Measured in watts and often expressed in kilowatts (kW) or Megawatts (MW), it is also known as ‘real’ or ‘active’ power.

9.1.2 Installed Capacity Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer, or the maximum rated output of a generator under given conditions. Installed capacity is given in Megawatts (MW) on a nameplate physically fixed onto the generator.

9.1.3 Active Installed Capacity Active installed capacity refers to that component of electric power that actually performs work. It is given in Kilowatts (kW) or Megawatts (MW).

9.1.4 Electricity Generation The production of electric energy by transforming other forms of energy. Also refers to the amount of electric energy produced, expressed in Gigawatt-hours (GWh).

9.1.5 Electricity Consumption Consumption of electricity calculated as: generation, plus imports, minus exports, minus transmission and distribution losses. Measured in Gigawatt-hours (GWh).

9.1.6 Thermal Power Plant A plant in which turbine generators are driven by burning fossil fuels.

9.1.7 Hydropower Plant A plant in which turbine generators are driven by falling water.

9.1.8 Nuclear Power The electricity generated by the use of the thermal energy released from the fission of nuclear fuel in a reactor.

9.1.9 Renewable Energy Resources Naturally replenishing energy resources limited in the amount of energy that is available per unit of time. For example, biomass, geothermal, solar and wind can all be termed as renewable resources.

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9.2 Abbreviations

Table 20: Abbreviations Full form Abbreviations

Compound Annual Growth Rate CAGR

Central and Eastern Europe CCE

Combined Cycle Gas Turbine CCGT

Circuit kilometres Ckm

Day Ahead Market DAM

Distribution System operator DSO

Energy Efficiency Action Plan EEAP

European Union EU

European Network of Transmission System Operators for Electricity ENTOS-E

Feed in Tariffs FiTs

Gross Domestic Product GDP

Gigawatt hours GWh

Independent Power Producers IPPs

Kilovolt kV

Ministry of Economy of the Slovak Republic MoEc

Megawatts MW

National Energy Efficiency Action Plan NEEAP

National Renewable Energy Action Plan NREAP

Slovenska Elektrizacna Prenosova Sustava SEPS

Slovenske Elektrarne SE

Slovenska Elektrizacna Prenosova Sustava SEPS

Transmission and Distribution T&D

Source: GlobalData

9.3 Bibliography EBRD (2010). Slovak Republic Country Profile. European Bank for Restructuring and Development.

Available from: http://www.ebrd.com/downloads/legal/irc/countries/slovak.pdf

EIA (2012a). Slovakia - Total Electricity Imports [database]. Energy Information Administration. Available from: http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=2&pid=2&aid=3&cid=LO,&syid=2000&eyid=2011&unit=BKWH [Accessed on: January 30, 2013]

EIA, (2012b). Slovakia -Total Electricity Exports [database]. Energy information Administration. Available from: http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=2&pid=2&aid=4&cid=LO,&syid=2007&eyid=2011&unit=BKWH [Accessed on: January 30, 2013]

EURACOAL (2013). Slovakia-Coal. European Association for Coal and Lignite. Available from: http://www.euracoal.be/pages/layout1sp.php?idpage=79 [Accessed on: March 21, 2013]

Eurostat (2012). “Consumption of electricity by industry, transport activities and households/services. Eurostat [database]. Available from http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&plugin=1&language=en&pcode=ten00094 [Accessed On: January 30, 2013]

GGG (2012). Slovakia- Natural Gas Markets and Infrastructure. Green Gas Grids. Available from: http://www.greengasgrids.eu/?q=node/103# [Accessed on: March 21, 2013]

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Government of Slovakia (2012) via Nuclear Power Daily. Czechs, Slovaks join forces in defence of EU nuclear power. Nuclear Power Daily, October 29, 2012. Available from: http://www.nuclearpowerdaily.com/reports/Czechs_Slovaks_join_forces_in_defence_of_EU_nuclear_power_999.html [Accessed on: March 21, 2013]

IMF (2013). World Economic Outlook Database - October 2012 - Slovakia. International Monetary Fund. Available from: http://www.imf.org/external/pubs/ft/weo/2012/02/weodata/index.aspx [Accessed on: March 21, 2013]

JES (2010). The Evolution of Energy Security in Slovak Republic. Journal of Energy Security, September 29, 2010. Available from: http://www.ensec.org/index.php?option=com_content&view=article&id=262:the-evolution-of-energy-security-in-the-slovak-republic&catid=110:energysecuritycontent&Itemid=366 [Accessed on: March 21, 2013]

Ministry of Finance (2013) via Bloomberg. Slovakia Cuts GDP Growth Outlook on Euro Crisis, Jobs. Bloomberg, January 30, 2013. Available from: http://www.bloomberg.com/news/2013-01-30/slovakia-cuts-gdp-growth-outlook-on-euro-crisis-jobs.html [Accessed on: March 21, 2013]

RES Legal (2012). Slovakia-Feed in Tariffs. Legal Sources on Renewable Energy. Available from: http://www.res-legal.eu/search-by-country/slovakia/single/s/res-e/t/promotion/aid/feed-in-tariff-6/lastp/187/ [Accessed on: March 21, 2013]

SEAS (2012). ‘BBB’ with stable outlook. Slovenské elektrárne, a.s, July 7, 2012. Available from: http://www.seas.sk/en/news-media/news/news/news-detail/_fitch-bbb-stable-outlook [Accessed on: March 21, 2013]

SEPS (2012). 2011 Consolidate Annual Report. Slovenska Elektrizacna Prenosova Sustava.a.s. Available from: http://www.sepsas.sk/seps/dokumenty/vyrocnespravy/SEPS_KVS2011.pdf

World Bank (2012). The Worldwide Governance Indicators, 2012 Update. The World Bank Group. Available from: http://info.worldbank.org/governance/wgi/pdf/wgidataset.xlsx [Accessed on: January 30, 2013]

World Bank (2013). Doing Business-Economy Rankings. The World Bank. Available from: http://www.doingbusiness.org/data/exploreeconomies/poland/ [Accessed on: January 30, 2013]

9.4 GlobalData’s Methodology GlobalData’s dedicated research and analysis teams consist of experienced professionals with backgrounds in marketing, market research and consulting in the power industry, and advanced statistical expertise.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and the Strategic and Competitive Intelligence Professionals (www.scip.org) .

The following research methodology is followed for all country outlook reports.

9.4.1 Coverage This report gives detailed information on Slovakia’s power market. It examines the country’s power market’s structure and provides historical numbers and forecast numbers on power generation, capacity and consumption up to 2030. The report provides insights on the market’s regulatory structure, import and export trends, competitive landscape and leading active and upcoming power projects. The report also provides a snapshot of the country’s power sector, analyzing this on six broad parameters - macro economic factors, supply security, generation infrastructure, transmission infrastructure, degree of competition, regulatory scenario and potential. Each parameter has a weight assigned, and a weighted average score is calculated to obtain the country’s ranking in the region.

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9.4.2 Secondary research and analysis The capacity, generation and consumption data is collected and validated using a number of secondary resources including but not limited to:

Government agencies, ministerial websites, industry associations, the World Bank, statistical databases

Company websites, annual reports, financial reports, broker reports and investor presentations

Industry trade journals, market reports and other literature

Globaldata’s proprietary databases like the Capacity and Generation Database, Power Plant Database and Transmission and Distribution Database.

Further to this, the following secondary information is collected and analyzed to project the country’s power market scenario through to 2030, analyzing factors such as the following:

The country’s macro-economic scenario

Government regulations, policies and targets

Government and private sector investments

Contract and deal announcements

Utility expansion plans

The sector’s historic track record

Other qualitative insights built through secondary research and analysis of company websites, annual reports, investor presentations, industry and trade journals, and data from industry associations.

9.4.3 Primary Research and Analysis Secondary research is further complemented through primary interviews with industry participants to verify and fine-tune the market numbers obtained through secondary research and get first-hand information on industry trends.

The participants are drawn from a diverse set of backgrounds, including equipment manufacturers, industry associations, government bodies, utilities, distributors, and academia. The participants include, but are not limited to, C-level executives, industry consultants, academic experts, business development and sales managers, purchasing managers, plant managers, government officials, and industry spokespeople.

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Slovakia Power Market Outlook to 2030 - Market Trends, Regulations and Competitive Landscape

GDPE0667ICR / Published MAY 2013 Page 50

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