Croatia: HEP to lower wholesale gas price by 8.1 % as of 1 April

Croatian state-owned power utility HEP said that it will decrease the wholesale price of natural gas by 8.1 % to 2.45 eurocents/kWh for the next regulatory period, starting from 1 April.
The statement from the company said that thanks to the favorable developments on the natural gas market, with having in mind the impact on the projected business result of HEP in the coming period, HEP was able to set lower natural gas prices compared to the maximum prescribed by the energy market regulator HERA.
Last week, HERA decided to cap the reference wholesale price of natural gas at 2.6 eurocents/kWh for the period between 1 April 2020 and 31 March 2021, which is 3 % lower compared to the current price.In addition, due to the lower wholesale price, HEP‟s natural gas distribution unit HEP Plin will be able to lower the prices for household consumers by 5.2 % as of 1 April.
HEP has been a wholesale supplier natural gas since April 2016.