Plenković on HEP: We will provide a total of 900 million euros

A decision to approve the granting of a shareholder loan to the Croatian Electric Provider (HEP) and the initiation of the recapitalization procedure were on the agenda of today’s Government session.

In his opening address, Prime Minister Andrej Plenković said that a package of four measures to protect citizens and the Croatian economy will come into force on Saturday in the context of the consequences of Russian aggression against Ukraine and the related energy and food crises and inflationary pressures.

“The price of gas remains regulated for another year, and the price of electricity until September 30. We continue to regulate the price of oil derivatives, and precise aid packages go to everyone who needs help,” said the Prime Minister, adding that the value of the package is 1.7 billion euros.

Prime Minister Plenković pointed out that today's decision to grant a shareholder loan to HEP in the amount of EUR 400 million, as a first step, is part of the package.

“The second part is the recapitalization process that runs parallel to this process. The total package is EUR 900 million. This will enable the normal functioning of HEP,” he said.

Prime Minister Andrej Plenković announced that the Government will make a decision on recapitalization, or, granting a shareholder loan to HEP worth a total of 900 million euros, 400 for a loan and 500 for recapitalization.

He said that this is a clear message that HEP, as the main national energy company, will remain strong, stable, and in 100 percent state ownership, without any privatization.

Source: HRT