Croatia, HEP is planning to increase the price of electricity for commercial consumers by 40 %

According to Croatian media, state-owned power utility HEP is planning to increase the price of electricity it supplies to commercial consumers by as much as 40 %.

Press release from the company said that, for commercial consumers, users of the public service within the guaranteed supply provided by HEP Elektra, the decision on the price of electricity for the guaranteed electricity supply for each upcoming quarterly period is made by the Energy Regulatory Agency HERA on the basis of the prescribed methodology.

Regarding the market supply of commercial consumers, HEP Opskrba is in continuous contact with all its large customers, and adjusts its offers and contracts to the requirements and specifics of each individual customer, especially in terms of product type and contract terms. Thus, the customer was able to contract the supply of electricity for 2021 in 2018 or 2019.

However, it is an increasingly common trend in the market that customers choose favorable moments of contracting in the market and in those moments contract the delivery of electricity for 1-3 years in advance. The current high contract prices on the market will be reflected in the price of electricity that will be consumed in 2022-2023 and even in 2024. One of the key indicators of the state of contracting and the price on the electricity market is the price of electricity on the wholesale market.