Hrvatski Telekom will sell its power business to RWE Hrvatska, the telecommunication company said in a press release.

Hrvatski Telekom has concluded a contract with RWE Hrvatska initiating the process of the transfer of its retail electricity business segment to the German energy company’s subsidiary, Hrvatski Telekom announced.

This transaction has no influence on the manner and price of the provision of retail electricity services to customers nor does it affect the price and provision of the contracted telecommunication services, according to the press release.

“The transfer transaction is subject to regulatory approvals and it shall only be finalized upon the obtaining of all necessary approvals when all details thereon shall be published,” Hrvatski Telekom said.

According to Večernji list, Hrvatski Telekom supplies 26,000 customers, including 21,000 households and 5,000 enterprises.

There are 11 active electricity suppliers in Croatia.

Hrvatski Telekom started providing retail electricity services in December 2013. The Croatian Energy Regulatory Agency (HERA) renewed the license for supply of electricity to Hrvatski Telekom in October 2016 for a period of five years.