ZAGREB, 22 Sept, 2021 - Economy Ministry state secretary Ivo Milatić said on Wednesday that electricity prices for households would not increase this year.

"You heard (power provider) HEP's clear statement that this is not being considered by the end of the year," he told Davor Dretar of the opposition Homeland Movement, who asked if electricity prices for households would go up this autumn.

Dario Zurovec of the opposition Fokus asked if arise was expected in a year's time given the turbulence on the world market.

Milatić said that if prices were corrected next year, the corrections "will not be as in neighbouring markets."

He said that if electricity prices continued to increase, some corrections would be inevitable, but added that Croatia was in a different position as 60% of the total energy production was renewable, with half of that from the hydro potential.

Household electricity prices won't be raised for political reasons

Mirela Ahmetović of the opposition SDP said household electricity prices would not be raised for political reasons but that they would be for businesses and that this would affect households through more expensive goods.

She said Croatia imported almost 35% of electricity and that this made it dependent on galloping prices.

Milatić said Croatia was in a "good position" with regard to the price of electricity and would stay there.

Croatia ranks 26th among 33 European countries when it comes to household and 21st when it comes to corporate electricity prices, he said, adding that refunds for energy poor citizens would increase if the price of energy they could not pay went up.

He also said that significant funds were envisaged to co-finance the construction of charging stations for electric cars.

Milatić said Croatia had a number of power providers, with HEP's companies holding 80% of the market. This is good, he said, as Croatia is not as affected by prices as some other countries.

MPs were debating an electricity market bill which envisages transition to clean energy and transposes an EU directive on common rules for the electricity market. One of its main novelties is that Croatian households will be able to buy electricity from a provider in any other EU member state and their citizens will be able to buy it from HEP.

For more about politics in Croatia, follow TCN's dedicated page.

ZAGREB, 18 July, 2021 - At the end of the first quarter of 2021, Croatian citizens' financial assets totalled HRK 545.3 billion, up 8.4% on the year, according to central bank data.

Compared with the end of 2020, the increase was 2%.

Deposits make up half of financial assets

Deposits continued to dominate in household financial assets, exceeding HRK 271 billion and making up almost 50% of those assets, followed by insurance and pensions (over HRK 152 billion), and equity, shares and investment funds (over HRK 100 billion).

Financial liabilities HRK 153 bn

At the end of March 2021, household financial obligations totalled HRK 153 billion, up 2.5% from the end of March 2020 and 1.7% from the end of 2020.

Loans made up the lion's share of household financial obligations, reaching HRK 143.76 billion, up 1.7% from the end of March 2020.

These trends with assets and obligations resulted in an almost 11% annual increase in the financial net value of the household sector, to HRK 392 billion at the end of March 2021. Compared with the end of 2020, the increase was 2.4%, continuing the trend of a gradual but consistent increase.

(€1 = HRK 7.5)

For more on business, follow TCN's dedicated page.

For more about Croatia, CLICK HERE.