The joint company Ece is expected to control around 23% of the retail market.

Parent companies Elektro Gorenjska and Elektro Celje will hold a 25% and 75% stake in the new company, respectively.

Elektro Celje Energija director Mitja Terče told the press in Ljubljana on Wednesday that Ece will cover the biggest number of customers in Slovenia compared to other suppliers - more than 200,000 households and around 30,000 companies.

"This is a positive story. Together we are better and stronger," said Terče, adding that the merger would bring additional synergy effects and improve the quality of service on the market. "It is a merger of two healthy companies."

The merger will not lead to lay-offs, and the joint company will employ more than 80 people. It is expected to generate between EUR 140m and EUR 150m in revenue this year, according to Terče.

He added that Elektro Celje Energija was bringing marketing expertise to the joint company, while Elektro Gorenjska Prodaja was bringing IT systems, order and even more discipline.

On the one hand, the competition welcomes the merger because the market will consolidate at least a little bit, as "Slovenia is a country with 10 retailers, which is by far the most in Europe per capita," Terče explained.