Croatia: Power utility company HEP reduces investments for 44MEUR, decrease will affect power gen and transmission capacities

22. May 2013. / SEE Energy News

HEP’s administration has recently created investment rebalance suggestion for 2013 where total investments of this company are decreased by 334,5 million HRK. The proposal was made by HEP’s controlling sector and rebalance predicts 101 million HRK for HEP’s investments in production.

HEP will invest around 723 million HRK in production capacities instead of 824 million HRK while investments in TPP Plomin C will be decreased by 44 million HRK. Besides, HEP’s administration predicts decrease of investments in energy transmission system for 45 million HRK approximately so investment in distribution system will be decreased by 82 million HRK. The introduction of SAP system will be the only project in HEP with increased investments.

HEP will invest less this year in investment planning, corporative development, heating system, international business and reconstruction, in renewable energy sources and heating energy. The only increase in investments is planned in the sector for informatics and telecommunications where 44 million HRK more will be invested instead of arranged 95 million HRK and this is related to the introduction of HEP Company. As a result of reduced investment plan, HEP’s administration mentions “preventing factory credit rating fall”. This is written in the proposal of investment rebalance plan, signed by Snjezana Pauk, Director of Controlling Sector.

Source;Serbia Energy See desk

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