Centre for Monitoring of Energy Business and Investments
In order to tackle what some have called the inconsistent and misguided management of State-owned energy companies, the Croatian Parliament recently enacted the Act on Centre for Monitoring of Energy Business and Investments. The Act is one of a number of measures which Croatia has been taking in order to boost investments and to optimize the efficiency of the public sector.
The Centre will be the central authority for managing State-owned companies and public-private partnerships in the energy sector and is expected to become a key driver of economic development.
Its main goals are enhancing the financial efficiency and transparency of the State-owned energy sector, directing investments into projects which ensure the best long-term economic outcomes, and speeding up the decision-making process.
Further to this, it shall introduce new investment strategies and to take an active consultancy role in business organisation and project preparation. Transparency shall be achieved with an investment registry.
The Centre will be supervised by the Minister of Economy and the Minister of Finance. Its directors may not be persons involved in the energy business. It remains to be seen whether such an approach will really be effective.
The Centre will be financed by contributions, from other resources gained in course of performing its tasks, donations, EU funds, etc.
The Croatian Parliament has further announced that, among others, the Energy Act, the Regulation of Energy Activities Act, the Electricity Market Act and the Renewable Energy Sources Act shall be amended in the course of 2012.