Croatia, Government has extended the mandate of CEO of HEP Frane Barbaric by six months

, SEE Energy News

The Croatian Government has extended the mandate of CEO of state-owned power utility HEP Frane Barbaric by six months at most. His regular term expired earlier this week.

HEP Group recorded consolidated net profit of 166.8 million euros in the first half of 2021, which is about 30 % higher compared to the same period last year.

Operating income totals at one billion euros, marking an increase by 5.2 % in comparison to the same period 2020. Income from electricity sale was 820 million euros and in comparison to the same period the year before it rose by 11.9 % as a result of income from electricity sale at the international market and export of electricity surpluses, as well as increased sale of electricity to household customers in Croatia, as a result of higher billed consumption. The income from the sale of heat energy increased by 3 million euros, whereby the income from gas sale decreased by 34 million euros, due to the cessation of performing the activity of supplier at the wholesale gas market, which HEP performed by 31 March 2021.