This paper will instead analyze and explain examples of the quasi-fiscal activities of public sector institutions — e.g., Croatian Radio and Television, shipyards, and utility companies — and give an overview of possible quasi-fiscal activities revealed by lower prices for specific user groups in the energy sector. The main reason for choosing these institutions is their dependence on state aid, their high risk of not being able to pay all debts, majority share ownership by the state, and the size of influence on management by the state and local units. The higher the share of state ownership and management, the higher the probability of quasi- fiscal activities that lead to new fiscal costs for the state and local units.