Slovenia: Electricity trader GEN-I secures ownership over holding company

, SEE Energy News

The Management of the Slovenian energy company Petrol signed an agreement to sell half of the shares of GEN-I, which was in its possession since 2011.

The shares were purchased by the company ENEL for 45.1 million euros. EN-EL is a joint venture of GEN Energija (which owns the other half of GEN-I shares), Elektro Ljubljana (whose subsidiary Elektro Energija will take over the operation of GEN-I) and GEN-I.

GEN-I supplies electricity to every sixth household in Slovenia, and one of potential buyers of this package of shares was Croatian state-owned power utility HEP. The recent dissolution of a part of GEN-I sales team in Croatia prompted rumours about the withdrawal of this Slovenian company from the Croatian electricity market, which, besides Croatia, supplies electricity to customers in more than 20 countries.

However, the Management of GEN-I stated that these rumours are not true and nothing will change in Croatia. Tjana Kozlin, Secretary of the company’s CEO, said that GEN-I remains present in Croatia and will continue to provide services under the signed contracts. She also claims that it is not true that sales team in Croatia was disbanded, but it was restructured. It is just a part of reorganization in order to adapt the company’s internal structure to current market situation, transmits