GEN-I presents its operating results and current trends on the energy market

At the 11th meeting of its business partners, GEN-I presented the successful operating results achieved last year and trends on energy markets for the efficient purchase of electricity in the coming years.

Those in attendance were first addressed by Martin Novšak, MBA, Managing Director of GEN energija and the GEN Group, who presented the operating results and plans of GEN-I: “The GEN Group was successful again in 2017. The Group’s power plants functioned reliably and efficiently, and thus ensured the safe supply of electricity to customers at competitive prices. The year was characterized by intensive investments in our core activity. We connected the newly built hydroelectric power plant in Brežice to the network, made numerous upgrades at the Krško Nuclear Power Plant and built a new gas turbine the Brestanica Thermoelectric Power Plant. At the same time, we continuously invest in knowledge and the development of new areas, with the aim of further expanding our portfolio and providing our customers the most state-of-the services.”

Robert Golob, Ph.D., President of GEN-I’s Management Board, highlighted the correctness of the Group’s decision to invest intensively in development and employees in previous years, which has been reflected in exceptional operating results: “The 2017 business year was a breakthrough for GEN-I from several perspectives: the initial phase of offering customers solar power plants for the self-sufficient supply of energy is successfully behind us, with more than 300 of those plants set up in a very short period of time. We also achieved excellent operating results in 2017, with more than EUR 2.3 billion in revenues generated, which is 50% higher than planned. With a net profit of EUR 13.5 million, an increase of 84% relative to 2016, and 51.5 TWh of energy sold on 22 European markets, it was record year in all respects.” GEN-I once again confirmed its reputation as one of the fastest growing energy companies in Europe. Its view to the future, innovativeness and flexibility are GEN-I’s main traits, and represent the right combination for the challenges brought about by continuously changing market conditions.

The vigilant monitoring of developments on the international energy markets make it possible for GEN-I to successfully forecast trends, and thus provide business partners accurate and timely advice, which is the central focus of the annual event.

“We are proud of the fact that our recommendations to customers at last year’s meeting proved correct, that they shouldn’t wait to make their energy purchasing decisions, as electricity prices began to rise sharply after that meeting,” emphasized Bojan Kumer, MSc, Director of Sales at GEN-I. He continued by explaining, “Later in the year, we recommended that those partners who didn’t respond to our recommendations at last year’s meeting and missed the right purchasing opportunity make only structured purchases, as fixed prices no longer facilitate purchases at a sustainable price. Only through structured products can we ensure customers the optimization of their purchases at lower costs. Thus, the majority of partners who heeded our recommendations successfully bridged last year’s period of excessively high electricity prices and now benefit from savings as high as 10% and more.”

The beginning of this year was characterized by a drop in electricity prices. The reversal in the trend of prices on the electricity market, which began at the end of November 2017, continues, mentioned Dejan Paravan, Ph.D., Director of Strategic Innovation at GEN-I. “Electricity prices on the wholesale market have fallen by 20% in the last three months and are approaching the prices recorded at the beginning of last year. Thus, those companies who last year made poor decisions for supply in 2018 due to their inactivity now have the opportunity to improve their purchasing strategy for the coming years.” Mr. Paravan continued with a presentation of calculations of possible price scenarios for future years and provided recommendations on how to best exploit current market conditions.

The emphasis during the second part of the meeting was on the area of e-mobility. Those in attendance listened with great interest to the presentation of Andrej Pečjak, Director of the Metron Institute, on the sustainability of e-mobility as an element of the electricity system, and the presentation of Marko Derča, Vice President of A.T. Kearney, on opportunities in the area of e-mobility in Slovenia and around the world.

Photo 1: Robert Golob, Ph.D.

Photo 2: Martin Novšak, MBA

Photo 3: Dejan Paravan, Ph.D.

Photo 4: (from left to right) Bojan Kumer, MSc, Dejan Paravan, Ph.D., Andrej Pečjak, Robert Golob, Ph.D. and Marko Derča


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