Croatia’s govt proposes to dismiss CEO of HEP

The government did not elaborate on the reasons for its proposal in a press release.

According to media reports quoting a member of parliament, HEP was losing 500,000 euro ($541,000) per day by purchasing natural gas from oil and gas group INA [ZSE:INA] at a regulated price of 47.60 euro per megawatt hour, only to resell it later through the Croatian Energy Market Operator at lower prices.

($=0.925 euro)