GEN-I Group records exceptional results also in Croatia

GEN-I Zagreb of GEN-I Group celebrates its first anniversary of the entry into the Croatian market with the sister brand of Poceni elektrika called Jeftina struja. Since the introduction of Jeftina struja brand to the Croatian market on 17 June, 2013 the company has been supplying electricity to 19,513 customers, of which there are 16,975 households and 2,538 small businesses. Along with the constant increase in the number of customers in the large corporate segment GEN-I today holds a 6% of Croatian market share.

In 2013, GEN-I Zagreb concluded new contracts with 968 large businesses and public entities, and in 2014 the company is expected to power 11% of the business segment in Croatia.

Despite the challenges, the company GEN-I Zagreb generated more than EUR 92 million of revenue in 2013 while the revenue in the first quarter of 2014 amounts to EUR 30.9 million. End-user sale in 2012 totaled 94.1 GWh which rose to 354.5 GWh in 2013 and reached 216.5 GWh in the first quarter of 2014.

"We are happy about the results and most pleased that the Croatian users recognized GEN-I as the most favourable electricity supplier. However, we still face numerous challenges. In the segment of households and small businesses the greatest challenge remains the unified account. Resolving this issue would greatly enable users to understand what they are actually paying for and who they are paying to. In addition, there are also two major challenges to be resolved by the responsible institutions in Croatia. The first chalenge are non-transparent offset energy costs which are significantly higher than in neighboring countries. The second problem is the demand of electricity suppliers to buy the electricity produced from renewable energy sources from HROTE subject to non-market conditions. All this is clearly reflected in higher electricity costs for consumers," summarized the situation in the Croatian electricity market Robert Golob, PhD, president of the GEN-I management board.

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