Kottnig: the Loan Burdens the Future of Gradska Plinara Zagreb

Zagreb, September 11, 2022. – In the Z1 television show, the president of the Union of Gas Distribution and Gas Technology of Croatia, Vlatko Kottnig, highlighted the issues with the new loan approved by the Assembly of the City of Zagreb, through which the mayor, Tomislav Tomašević, assigned the role of collateral to Gradska Plinara Zagreb (GPZ).

GPZ as a Public Service Provider

Kottnig emphasized that Gradska Plinara Zagreb is a public service provider for over 300,000 consumers and performs activities of general public interest for Croatia and the City of Zagreb.

Risks of Loan Indebtedness

As the president of the Union and a member of the GPZ Supervisory Board, he warned of several potential consequences of such a financial decision, including:

• financial burden on operations due to the registration of GPZ’s assets/operations as collateral,
• potential risk to the stability of public service in case of worsening market conditions,
• increased exposure of future investments in network safety and maintenance.

Video

The full interview is available here: https://www.youtube.com/watch?v=91HmwVlkRNY