UPDATE: RWE Hrvatska completes takeover of Hrvatski Telekom’s retail electricity business

The sale of telecom company Hrvatski Telekom’s (HT) electricity business to RWE Hrvatska has been concluded, HT said in a press release.

At the beginning of June 2018, HT concluded a contract with RWE Hrvatska, initiating the process of the transfer of its electricity business to RWE Hrvatska.

Upon the obtaining all necessary regulatory approvals and following the payout of the purchase price, the sale transaction has been concluded, HT said in the press release.

This transfer of the business to RWE and change of the electricity supplier has no influence on the manner of the provision of telecommunication services to the customers of HT who were the company’s electricity service customers until the sale of this business to RWE.

This transaction has no material influence on the published HT Group 2018 Outlook, according to the press release. By the end of 2018, HT also plans to achieve certain revenues from the sale of electricity procured earlier in the year.

“We are happy that with this new acquisition RWE Hrvatska maintains growth and consolidates its market position. I believe that our new customers will recognize the advantages of our supply, as well as a number of additional services and products that ensure a range of benefits and savings to their households and companies,” said Karl Kraus, President of the Board of Directors of RWE Hrvatska, company said in the press release.

RWE Hrvatska supplies electricity and natural gas to 190,000 customers, which makes it the number-two supplier of electricity and the third largest supplier of natural gas in the country.

According to Večernji List, Hrvatski Telekom supplied electricity to 26,000 customers, including 21,000 households and 5,000 enterprises.

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.

There are 11 active electricity suppliers in Croatia.