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Friday, March 1, 2024

The state-owned Gen-I has drastically increased electricity prices

By: Sara Kovač (Nova24TV)

The state-owned electric company Gen-I has announced that they will increase the tariff for electricity starting with the new year. This will be significantly higher than the current one, averaging a 60% increase. Some electricity suppliers have also published prices for the remaining 10% of household electricity consumption that will not be regulated in 2024. The prices, which will be effective from January 1st, 2024, when the regulation of prices for 90% of consumed electricity will also be implemented, will be considerably higher everywhere compared to the prices for the regulated part of consumption.

The government has set the maximum allowed retail prices for 90% of household electricity consumption for the entire year 2024. The prices will be the same as the currently regulated prices for the total consumption, namely 82 euros per megawatt-hour (MWh) excluding value-added tax (VAT) for the lower tariff and 118 euros per MWh excluding VAT for the higher tariff or 98 euros per MWh excluding VAT for a single tariff. Suppliers will not be restricted when charging for the remaining 10% of consumption.

Gen-I emphasises that due to the limitations imposed by the state, the price for the average household consumer will not significantly increase by the end of next year. However, it is expected to drastically increase once the state regulation expires unless there are major changes in the market. They also note that the new price will only be applied to 10% of the consumed electricity, while the remaining 90% will be billed according to the current state regulation prices.

Currently, at Gen-I, one kilowatt-hour in the higher tariff costs 0.14396 euros (including VAT), but under the new pricing, the cost will be 40% higher, amounting to 0.19874 euros.

For one kilowatt-hour in the lower tariff, the current cost is 0.10004 euros, and under the new pricing, the cost will increase by a significant 75%, reaching 0.17678 euros.

Regarding the kilowatt-hour under the single tariff at Gen-I, the current cost is 0.11956 euros, but with the new pricing, the price will increase by almost 60%, reaching 0.18776 euros.

Cost increase is wrapped in cellophane

That people are no longer dancing is evident from the dissatisfaction of citizens. “Gen-I has gone completely mad, starting from January 1st, they are raising electricity prices by 77%. The higher tariff is increasing from 14.4 cents to 19.9 cents per kWh – a 38% increase. The lower tariff is increasing from 10.0 cents to 17.7 cents per kWh – a 77% increase. Are they not normal? In addition to the crazy price increase, they are actually eliminating the lower tariff and equalising it with the higher one. They wrap the price increase in cellophane and promise to calculate only a part of the consumption at higher prices. Croats have electricity at…”

Prices of other electricity suppliers

At the company Elektro energija, which is 100% owned by Gen-I, the prices will be 147.99 euros per MWh without VAT for the smaller tariff and 169.99 euros per MWh without VAT for the larger tariff, and 158.99 euros per MWh without VAT for the single tariff. At the company Energetika Ljubljana, which is part of the Public Holding Ljubljana, the prices will be 146.89 euros per MWh without VAT for the smaller tariff and 163.89 euros per MWh without VAT for the larger tariff, and 155.89 euros per MWh without VAT for the single tariff. At the company ECE, which is majority-owned by HSE, the prices will be 138.49 euros per MWh without VAT for the smaller tariff and 184.49 euros per MWh without VAT for the higher tariff, and 164.49 euros per MWh without VAT for the single tariff.

Gen-I has gone crazy, starting from January 1st, 2024, increasing electricity prices by 77 percent.

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