The End of Cheap Electricity: GEN-I Will Stop Supplying Electricity from December 1

A user of GEN-I electricity supply contacted Lider with information that they received a notice from the company GEN-I stating that it will no longer operate in Croatia due to market prices and that they now have to choose something else for their business and home.

From GEN-I Croatia, an electricity supply company operating in the Croatian market since 2013 under its brand Cheap Electricity, they confirm to Lider that they will soon cease supplying electricity.

– After careful consideration, business analysis, and based on forecasts regarding the further course of the energy crisis in the world, we at GEN-I Croatia were forced to make the difficult decision to suspend electricity supply in Croatia for households and small business users – the company stated.

However, they denied that they are completely withdrawing from Croatia.

– GEN-I Croatia will thus cease supplying electricity to households and small business customers as of December 1, 2022. but will remain in the Croatian market. In the future, we will support the development of solar energy to the greatest extent possible – the company commented.

As a reason for withdrawing from Croatia, they cite the energy crisis, and as electricity suppliers, they note that they are faced with ‘challenging and unpredictable conditions’.

– In the company GEN-I Croatia, for the past nine years, we have offered you reliable supply and favorable electricity prices, and we have always strived to provide our services at the highest level. During the last year, marked by the energy crisis in Europe, we electricity suppliers have faced demanding and unpredictable circumstances that have affected all levels of our business – they stated in a press release.

GEN-I Croatia, as a subsidiary of the namesake group, supplies about 10,000 households and small entrepreneurs in Croatia, who will soon face the cessation of supply. Twelve years ago, they signed a five-year contract for the supply of the city of Zagreb in the retail electricity market, and in 2012, they even became the second largest supplier in Croatia.

Last year, they recorded revenues of 1.79 billion kuna, which is an increase compared to the previous three years. The sole founder and owner of the company is the Slovenian subsidiary of the group.

In addition to electricity, they are also present in the natural gas market, as well as on European energy exchanges.