Slovenia exclusive: SEE region electricity trader GEN-I marks successful market development in Serbia and Croatia

Published on 25. March 2014., SEE Energy News

Slovenia GEN-I Group, one of the largest electricity retailers in Central and Southeast Europe, held the  Meeting of Group GEN-I Partners in its headquarters in Krsko, which for the first time was attended by partners from Croatia. GEN-I group during last year sold 24.3 TWh of electricity and 0.9 TWh of natural gas, so we achieved 1.28 billion EUR in revenue says Robert Golob management president.

The meeting, which over the past six years was attended by over 540 participants, represents an excellent opportunity to discuss a number of current issues related to electricity and gas, the expected regulatory changes in the environment, but also on the advices that GEN-I Group gives for the purchase of electricity and terrestrial gas.

This year, 115 large customers from Croatia and Slovenia had the opportunity to hear estimates from representative GEN-I Group on future trends in energy prices, as well as news releases, including the opportunity to purchase the products. This innovation, which GEN-I Zagreb will soon offer to large customers from Croatia, will allow them flexible and adjusted power purchase even for several years in advance in order to ensure favorable price stability in a given period.

President of the Management of GEN-I Group, dr. sc. Robert Golob said: “The electricity sale of GEN-I Group is characterized by innovation and flexibility, and our energy products we adjust to the partners. These benefits are recognized by our partners and customers, with the result that more than 120.000 users in Croatia, Slovenia, Austria Italy, Serbia and Macedonia have passed on GEN-I. Due to this, the GEN-I Group achieved 9.8 MEUR in net profit in 2013^th, which is an increase of 18.8 percent compared to 2012^th. During the last year we sold 24.3 TWh of electricity and 0.9 TWh of natural gas, so we achieved 1.28 billion EUR in revenue”.

Last year was a very important and successful year for GEN-I on the Croatian market, where the GEN-I Zagreb is the first and largest alternative electricity supplier to end users. The Group made an important step forward in June 2013^th by starting with the electricity supply of residential and small business within the offer of cheap electricity.

The company GEN-I Zagreb achieved 90 MEUR  in 2013^th  in operating income, of which 19.7 MEUR from the electricity sale to businesses and households in the domestic market, which is four times more than in 2012^th . We got 968 new business customers so we jumped in the market share of 1% in January 2013^th to a share of 5% of the Croatian electricity market at the end of December last year. In addition, GEN-I Zagreb was chosen in a public tender for electricity supply to the whole public administration of the Republic of Croatia for a period of two years.

Deputy Chairman of the GEN-I Group, Martin Novsak concluded: “GEN-I Group works stably and with gains, and financial results show the economic efficiency and good business. In order to respond to new business challenges and ensure a stable electricity supply in region we plan a series of important investments, among which the most important is certainly the construction of a nuclear power plant Krsko 2”.

Source; Serbia Energy See Desk