What HEP does

HEP (Hrvatska elektroprivreda d.d.) is Croatia's state-owned national electricity utility, founded in 1884/1895, headquartered in Zagreb, and wholly owned by the Republic of Croatia. The company operates as a vertically integrated energy group with approximately 20 subsidiaries covering electricity generation (HEP-Proizvodnja), transmission system operation (HOPS d.d.), distribution (HEP ODS across 21 distribution areas), supply (HEP-Opskrba with tariff models HEP PRO/OPTI/MAX/LUX), natural gas distribution and supply (HEP-Plin across 3,900+ km of pipeline in four eastern Croatian counties serving nearly 100,000 customers), district heating (HEP-Toplinarstvo serving 128,000+ customers in six cities), energy services (HEP ESCO), e-mobility (ELEN network with 200+ charging stations), and LNG terminal operations (LNG Hrvatska). The group serves households, business customers, large industrial users, municipalities, and EV owners across Croatia, with regulated tariffs set by HERA.

HEP's technology stack spans a diversified generation portfolio including legacy hydroelectric (Krka, Varaždin, Senj 2), combined-cycle cogeneration (EL-TO Zagreb, 150 MW), wind (VE Korlat), and solar (SE Vis, SE Cres, SE Ustrine, plus 120 MW in municipal partnerships). The distribution grid is undergoing modernization through the EU CEF-co-financed GreenSwitch project (EUR 146.2 million, 2023-2028) and the Pilot Smart Grid Project (HRK 176.83 million, 85% EU-funded), deploying advanced metering infrastructure across 24,000 smart meters and 6,125 transformer stations, along with battery energy storage (1 MW/1.44 MWh at SE Vis) and SVC static var compensators via the SINCRO.GRID cross-border project with Slovenia. Customer-facing digital platforms include Moj račun (billing portal), Moja mreža (grid access app), Srediracune (e-billing), and the HEP ODS measured data portal.

HEP's revenue model combines regulated tariff revenue across electricity distribution and supply (subscribed monthly billing with time-of-use and seasonal pricing), subscription-based gas and district heating, energy efficiency project fees (ESCO/EPC model with guaranteed savings), and EV charging transaction fees (ELEN network with Hubject interoperability). Pricing is regulated by HERA across household and business segments. The company's go-to-market is sales-led through direct customer relationships via subsidiary-specific service centers, online portals, and dedicated B2B account management for industrial and municipal customers. Strategic customers include FATA/Danieli Group (EPC contractor), Siemens Energy (SVC technology partner), Končar (solar and hydro engineering partner), Hubject (EV interoperability), and municipal governments across Croatia.

Name

HEP

Legal name

Hrvatska elektroprivreda d.d.

Website

https://hep.hr

Company type

Private

Founded year

1895

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

HEP (Hrvatska elektroprivreda d.d.) is Croatia's state-owned vertically integrated national electricity utility, operating electricity generation, transmission, distribution, supply, gas distribution, district heating, and EV charging across the country for households, businesses, municipalities, and industrial customers.

Ownership category

akta.pro rank

Headquarters

HQ city

Zagreb

HQ country

Croatia

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Operations, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Electricity Generation: HEP generates electricity through diversified portfolio including hydroelectric plants (HEP d.d., HOPS), thermal plants, combined-cycle cogeneration (EL-TO Zagreb), wind farms (Korlat), and solar power plants.
2. Electricity Distribution: HEP ODS operates as the distribution system operator covering 21 distribution areas across Croatia, managing the low and medium voltage grid infrastructure.
3. Electricity Supply: HEP Opskrba supplies electricity to households, businesses, and industrial customers. ZelEn product line offers green energy certificates. Multiple tariff models (HEP PRO, HEP OPTI, HEP MAX, HEP LUX, Hepi).
4. Gas Distribution and Supply: HEP Plin distributes gas to nearly 100,000 customers across 3,900+ km of pipeline in four counties (Osječko-baranjska, Požeško-slavonska, Virovitičko-podravska, Vukovarsko-srijemska).
5. District Heating: HEP-Toplinarstvo provides heating to 128,000+ customers in Zagreb, Osijek, Sisak, Velika Gorica, Samobor, and Zaprešić through cogeneration and heating plants.
6. Energy Services (HEP ESCO): Energy efficiency projects including public lighting modernization (ESCO/EPC model with guaranteed savings), building energy retrofits, and performance contracting.
7. E-Mobility (ELEN Network): Electric vehicle charging infrastructure operating 200+ charging stations across Croatia, with cross-border interoperability through NEXT-E project and Hubject platform.
8. LNG Terminal Operations: LNG Hrvatska operates the Krk LNG terminal for gas import and national supply security.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

HEP is Croatia's vertically integrated state-owned energy utility, generating, transmitting, distributing, and supplying electricity, natural gas, and district heating across the country. The company operates through subsidiaries covering generation (HEP-Proizvodnja), distribution (HEP ODS), supply (HEP Opskrba), gas (HEP-Plin), district heating (HEP-Toplinarstvo), energy services (HEP ESCO), and e-mobility charging (ELEN network).

Product overview

HEP (Hrvatska elektroprivreda d.d.) is Croatia's national electricity utility and parent holding company of the HEP Group, operating as an integrated energy group across electricity generation, transmission, distribution, and supply, as well as natural gas, district heating, and e-mobility. The HEP Group comprises approximately 20 subsidiary companies including HEP-Opskrba (electricity supply, with tariff models HEP PRO/OPTI/MAX/LUX, Hepi household product, and ZelEn green energy), HEP-Operator distribucijskog sustava (distribution system operator), HEP-Toplinarstvo (district heating), HEP-Plin (gas distribution/supply, 3,900+ km network), HEP-Proizvodnja (generation), HEP ESCO (energy efficiency/ESCO services), HEP-Telekomunikacije, LNG Hrvatska, and others. The portfolio includes renewable energy projects (Vjetroelektrana Korlat wind farm, Sunčana elektrana Vis and other solar plants, Senj 2 hydropower, BE-TO bioenergy CHP), the ELEN EV charging network (200+ stations, GreenSwitch smart grid modernization), and customer-facing digital services (Moj račun portal, Moja mreža app, Srediracune e-billing, measured data portals). The group also operates EU-funded projects including the GreenSwitch smart grid initiative and the Pilot Project for Introduction of Smart Grids.

Differentiator

Problem solved

Functional benefit

Brands

• ELEN: HEP's public electric vehicle charging network covering all 20 Croatian counties and major road corridors, including islands. Over 200 charging points as of 2020.
• HEP ODS
• HEP-Toplinarstvo
• HEP-Plin
• HEP ESCO
• Moja mreža
• Moj račun
• Hepi
• ZelEn
• GreenSwitch

Products and services

• HEP Opskrba Electricity Supply Retail electricity supply service for households, businesses, and industrial customers across Croatia, offering multiple tariff models (HEP PRO, HEP OPTI, HEP MAX, HEP LUX for businesses; Hepi for households) and green energy products (ZelEn).
• HEP ODS Electricity Distribution Electricity distribution network operation across 21 distribution areas covering all of Croatia, with 6,125 transformer stations, smart metering infrastructure, and grid modernization programs (GreenSwitch).
• HEP-Proizvodnja Electricity Generation Electricity generation from hydroelectric, thermal, combined-cycle cogeneration (EL-TO Zagreb, 150 MW electrical + 114 MW thermal), wind (Korlat), and solar (SE Vis, SE Cres, SE Korlat) power plants across Croatia.
• HEP-Plin Natural Gas Distribution and Supply Natural gas distribution and supply to nearly 100,000 customers across four eastern Croatian counties (Osječko-baranjska, Požeško-slavonska, Virovitičko-podravska, Vukovarsko-srijemska) through 3,900+ km of pipeline.
• HEP-Toplinarstvo District Heating District heating production, distribution, and supply to over 128,000 end customers in Zagreb, Osijek, Sisak, Velika Gorica, Samobor, and Zaprešić via cogeneration and heating plants.
• ELEN Electric Vehicle Charging Network Public EV charging network with 200+ charging stations including fast (50 kW) and ultra-fast (up to 350 kW) chargers, cross-border interoperability via Hubject platform through the NEXT-E consortium across 6 countries.
• HEP ESCO Energy Efficiency Services Energy efficiency services for municipalities and businesses, including public lighting modernization (LED replacement with remote monitoring), building retrofits, and performance contracting with guaranteed savings.
• ZelEn Green Energy Product Green electricity product from HEP Opskrba offering renewable energy guarantee of origin certificates (RECs) to business and household customers seeking verified renewable energy supply.
• LNG Hrvatska Terminal Operations Operation of the Krk LNG (liquefied natural gas) terminal for gas import, supply security, and national energy infrastructure.

Quantifiable outcome

• EL-TO Zagreb CCPP: 150 MW electrical + 114 MW thermal capacity, EUR 140+ million project
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

16 partnerships are on record, tiered core and minor.

• FATA (Danieli Group)coreTechnology or Integration · 12 March 2026FATA, a Danieli Group company, serves as EPC contractor for the EL-TO Zagreb combined-cycle cogeneration project (150 MW electrical, 114 MW thermal, EUR 140+ million). Project financed by EBRD, commercial bank syndicate, and EIB with European Fund for Strategic Investments guarantee.
• HubjectcoreTechnology or Integration · 5 October 2020Hubject provides e-mobility charging interoperability platform integrating HEP's ELEN network with 252 NEXT-E stations across 6 countries (Croatia, Czech Republic, Hungary, Slovakia, Slovenia, Romania). Enables cross-border EV charging via single app.
• KONČAR - Elektroindustrija d.d.coreStrategic or Co-development PartnerKONČAR built solar power plants (SE Vis, SE Cres) providing photovoltaic modules, frequency converters (KonSol series), and monitoring/control systems. Strategic partnership for Croatian industrial content in renewable projects.
• NEXT-E ConsortiumcoreStrategic or Co-development PartnerEU CEF-funded project: 222 fast (50 kW) and 30 ultra-fast (150-350 kW) charging stations. Partners: E.ON (Czech/Romania/Slovakia), MOL Group (Hungary/Croatia/Czech/Romania/Slovenia), Petrol Group (Slovenia/Croatia), BMW, Nissan, HEP. Enables regional e-mobility coverage.
• E.ON GroupminorChannel Partner/ Reseller/ DistributorNEXT-E consortium partner providing EV charging infrastructure in Czech Republic, Romania, and Slovakia markets.
• MOL GroupminorChannel Partner/ Reseller/ DistributorNEXT-E consortium partner providing EV charging infrastructure at petrol stations across Hungary, Croatia, Czech Republic, Romania, and Slovenia.
• Petrol GroupminorChannel Partner/ Reseller/ DistributorNEXT-E consortium partner providing EV charging infrastructure in Slovenia and Croatia.
• BMW GroupminorGTM or Marketing PartnerNEXT-E consortium partner (automotive OEM) contributing to EV infrastructure deployment.
• NissanminorGTM or Marketing PartnerNEXT-E consortium partner (automotive OEM) contributing to EV infrastructure deployment.
• Siemens EnergycoreTechnology or IntegrationSiemens Energy provides SVC (Static Var Compensator) technology for SINCRO.GRID project at TS Konjsko and TS Sućidar, enhancing transmission system stability for southern Croatia.
• Hrvatski operator prijenosnog sustava (HOPS)coreStrategic or Co-development PartnerHOPS is transmission system operator partner in SINCRO.GRID project for cross-border grid stability between Croatia and Slovenia, co-financed by EU CEF.
• ELOS d.o.o. (Solin)minorChannel Partner/ Reseller/ DistributorELOS d.o.o. from Solin is co-contractor with HEP ESCO for public lighting modernization projects under ESCO model.
• PVI Solar / PVI GmbH / Intecco / DelingcoreTechnology or IntegrationConsortium contracted for SE Cres construction (6.5 MW, HRK 41 million).
• Solvis (Croatian manufacturer)coreTechnology or IntegrationSolvis supplies 20,330 photovoltaic panels for SE Cres project, supporting Croatian industry content.
• Razvojna energetska agencija KvarnerminorStrategic or Co-development PartnerPartnership for EU INSULAE program developing battery storage (1 MW) at Unije island solar project.
• 11 Croatian municipalitiescoreStrategic or Co-development PartnerSigned agreements with 11 municipalities for 120 MW solar power plant development across Croatia.

Scale indicators11 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• Elektroprivreda Srbije (EPS): Serbian state-owned vertically integrated electricity utility. Directly comparable to HEP as a national incumbent in a former Yugoslav state, with generation, distribution, and supply operations, and similar EU-accession-driven modernization and unbundling pressures.
• JP Elektroprivreda BiH (EPBiH): Bosnian-Herzegovinian state-owned electric utility. Comparable to HEP as a regional state-owned integrated utility with generation, distribution, and supply across multiple distribution areas, and similar regulatory and market liberalization dynamics.
• Elektroprivreda Hrvatske Zajednice Herceg Bosne (EPHZHB): Bosnian Croat-majority entity electricity utility operating in the Federation of BiH. Comparable to HEP as a regional vertically integrated state utility with hydro-dominated generation and similar customer/business model.

Broad incumbents

• ČEZ Group: Czech Republic's largest vertically integrated electric utility and one of Central Europe's largest energy groups. Comparable to HEP as a Central European state-influenced integrated utility pursuing nuclear, renewables, and retail across multiple customer segments.
• E.ON Group: Major European energy utility with operations across Germany, UK, and CEE markets. Comparable to HEP through NEXT-E consortium partnership in EV charging and as a broad incumbent whose European footprint could eventually overlap with Croatia's liberalizing market.
• INA (Industrija nafte d.d.): Croatian oil and gas company with downstream refining and retail operations. Comparable to HEP as the other major Croatian state-influenced energy incumbent and fellow subject of EPPO corruption investigations referenced in Freedom House reporting.
• Enel Group: Italian-headquartered multinational electric utility with operations across Europe and Latin America. Comparable to HEP as a vertically integrated utility with significant renewables buildout and smart grid modernization programs across multiple jurisdictions.

Regional players

• MOL Group: Hungarian-headquartered multinational oil and gas group with significant downstream and EV charging presence in Croatia through NEXT-E consortium partnership with HEP. Comparable in regional energy and e-mobility footprint.
• Petrol Group: Slovenian integrated energy company with retail, gas, and EV charging operations in Slovenia and Croatia. Comparable to HEP as a regional energy player and NEXT-E consortium partner for cross-border charging infrastructure.
• GEN-I: Slovenian energy trading and supply company active across Southeast Europe. Comparable to HEP's supply and trading operations (HEP-Opskrba, HEP-Trgovina) as a regional retail/wholesale energy competitor in CEE markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC
• LinkedInlinkedin.com/company/hep1

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries16 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HEP