Electricity

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

Photo: Pixabay

Published

September 17, 2018

Country

Comments

0

Share

Published:

September 17, 2018

Country:

Comments:

0

Share

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.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Turkey new energy storage regulation to spur unseen investment boom

Turkey’s new energy storage regulation to spur unseen investment boom

30 November 2022 - EMRA Chair Mustafa Yılmaz said applications came in for storage in combination with renewables with a stunning 67.3 GW in total capacity

HERMANN Petr_interview_Schneider Electric BGEN

Future of successful businesses relies on their digital transformation

30 November 2022 - Digitalisation changes everything because it connects all processes and provides a complete result, notes Petr...

Serbia relies on Norwegian expertise in energy sector development

Serbia to rely on Norwegian expertise in energy sector development

30 November 2022 - Serbia received recommendations from Rystad Energy and will work by its instructions, President Aleksandar Vučić said

Greece remains world most attractive renewable energy markets RECAI

Greece remains among world’s most attractive renewable energy markets

29 November 2022 - EY kept Greece and Turkey in its Renewable Energy Country Attractiveness Index of 40 countries. In another ranking, Greece is second in the world!