Distribution’s earnings recover to positive balance

Elektrokrajina AD, state-owned power distribution for the western part of the Republic of Srpska, reported better results in the first half of the year than from January through June 2014. Distribution losses dropped 0.56 percentage points to 15.48%, said the company, part of holding ERS (Elektroprivreda Republike Srpske MP AD). In comparison, the losses were 5.8 points higher in the first half of 2012, Glas Srpske newspaper reported.

Seka Kuzmanović, Elektrokrajina’s chief executive, said the company is managing to cut losses through stricter control, relocation of measuring spots, identification of unlawful utilization, adopting remote expenditure tracking, and development of distribution network. „The trend of increasing electricity bill collection also continued, with 103.25%. Apart from our collection for current usage, we also collect receivables based on reprogramming that had been agreed,” she said.

Turnover was BAM 105.77 million (EUR 54.08), 3% more year on year, while expenditure dropped by 2.8% to EUR 54.04, resulting in net profit, unlike in the same period of 2014, when a loss of EUR 221.89 million was registered, as a consequence of heavy flooding in May that caused damages to installations, facilities and buildings. In the first half of this year, Elektrokrajina invested EUR 4.91 million in repairs, distribution network’s development and machinery.