Serbia needs to hike electricity prices, but not before reforming EPS – Fiscal Council
Serbia’s state power utility Elektroprivreda Srbije (EPS) must step up investments in order to boost production capacities and meet environmental protection standards, which requires first implementing the company’s long-delayed reform and reducing power distribution losses, slashing or aborting the channeling of EPS’ profits into the state budget, and only then increasing electricity prices, according to […]
North Macedonia to adopt Energy Development Strategy until 2040 in line with EU Energy Union pillars
North Macedonia’s Ministry of Economy plans to adopt the Energy Development Strategy until 2040 by the end of 2019, said Economy Minister Kreshnik Bekteshi during the Business Forum held as part of the Western Balkans Summit Poznan 2019. The ministry has also prepared a draft law on energy efficiency. By the end of 2019, North […]
Croatia’s HEP Group posts EUR 184 million net profit for 2018
Croatia’s state-owned energy company Hrvatska Elektroprivreda (HEP Group) reported a net profit of HRK 1.36 billion (around EUR 184 million) in 2018, an increase of 5% compared to 2017. The profit came from the group’s electricity business, with losses seem in other segments of operations, according to HEP Group’s annual report. HEP Group posted an […]
Greece’s new energy minister, Kostis Hatzidakis, announces rescue plan for PPC
Not 24 hours after the polls closed in Greece, the new prime minister, Kyriakos Mitsotakis, has unveiled his cabinet. New Democracy Vice President Kostis Hatzidakis will lead one of the two key ministries – of the environment and energy. The new Greek Environment and Energy Minister Kostis Hatzidakis’ key task will be to tackle the […]
EPS reports net loss of EUR 11 million in 2018
State-owned power utility Elektroprivreda Srbije (EPS) made a net loss of RSD 1.3 billion (around EUR 11 million) in 2018, according to the business report of the EPS Group for 2018. A year earlier, the company reported a net profit of around RSD 6.3 billion (around EUR 53 million). EPS posted a pre-tax profit of […]
TENDERING: Study on economic impact of climate change on Trebišnjica hydrosystem
The United Nations Development Programme (UNDP) in Bosnia and Herzegovina has launched tendering for the development of study on the economic impact of climate change on the hydropower sector in Republika Srpska – the multipurpose hydrosystem Trebišnjica. The deadline to file bid expires on July 25. The UNDP in BiH is implementing the National Adaptation […]
Submarine power cable promotes Montenegro as energy hub for Balkans – Ferraris
The Montenegro-Italy submarine power cable has been deployed under an investment that will enable Montenegro to become an energy hub for the Balkan countries, said Terna CEO Luigi Ferraris, adding that the commencement of commercial use is planned by the end of the year. On the occasion of the successful completion of the 445-kilometer submarine […]
Electrica interested in CEZ assets in Romania – CEO
Romania’s state-owned power distribution and supply company Electrica is interested in buying the assets owned by Czech energy company CEZ in Romania, once they are put up for sale, Electrica CEO Georgeta Corina Popescu has said in an interview with Agerpres, Romania Insider reported. In addition to eyeing CEZ’s assets in Romania, Electrica is also considering […]
