February 18 (SeeNews) - Croatian power utility HEP said on Tuesday it is cutting by 8.1% the wholesale price of natural gas to 0.1825 kuna ($0.0266/0.0245 euro) per kWh as of April 1.
The new price will be in effect until the end of March 2021, HEP said in a statement.
"We are happy that thanks to the favourable developments on the natural gas market and having in mind the impact on the projected business result of HEP in the coming period, we were able to set lower natural gas prices compared to the maximum prescribed by [Croatia's energy regulator] HERA," HEP said.
Last week, HERA decided to cap the reference wholesale price of natural gas at 0.1924 kuna per kWh for the period April 1, 2020 - March 31, 2021, down 3% compared to the existing price.
HEP said that thanks to the lower wholesale price it has determined, its natural gas distribution unit HEP Plin will be able to lower by 5.2% the prices for household consumers as of April.
HEP has been a wholesale supplier natural gas since April 2016.
(1 euro = 7.44160 kuna)
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