The Slovenian company GEN-I said on Monday that its "Cheap Electricity" offer would remain the best on the Croatian market even if the competition lowered their prices, and that more than 4,000 customers had opted for its offer so far.
GEN-I released a statement after the state-owned power company HEP submitted a request to the HERA regulator to reduce the price of electricity for households.
GEN-I said its offer would remain the best, as promised when entering the Croatian market.
The price GEN-I is offering is 12.5 per cent lower than HEP's and will remain lower even if HEP lowers its own price, the statement said.
HEP asked HERA today to approve a 10.7% reduction of the production component of the electricity price for households, saying that if approved, this could mean a 6-7% reduction in the end price.
GEN-I said HEP had not announced a reduction in prices for small businesses and that GEN-I's offer for them would remain up to 30% lower than HEP's.
The Slovenian provider reiterated that it would not raise prices until the end of 2015 and that all customers who chose GEN-I by the end of this month would have free electricity for the first month.
The statement quoted GEN-I CEO Robert Golob as saying that HEP's move was not surprising and that it confirmed GEN-I's claim upon entering the Croatian market that household electricity prices were too high.
GEN-I presented its offer for Croatia in mid-June, reiterating in today's statement that it plans to supply 20,000 consumers in Croatia by the end of this year, 50,000 in 2014 and have a 17% market share within three years.
