EPS reports net profit of EUR 28.8 million, distribution subsidiary EUR 20.3 million in 2017

Public power utility Elektroprivreda Srbije (EPS) made a net profit of around RSD 3.4 billion (about EUR 28.8 million) in 2017, according to the unconsolidated audited financial report posted on the company’s website.

In 2017, EPS bought RSD 11.4 billion (some EUR 96.6 million) worth of electricity on the domestic market, about RSD 5.9 billion (around EUR 50 million) of which from licensed electricity traders, slightly over RSD 5 billion (approximately EUR 42.4 million) from renewable energy producers covered by feed-in tariffs, and nearly RSD 518 million (EUR 4.4 million) on the South East European Power Exchange (SEEPEX).

Within the EPS group, RSD 219.9 million (some EUR 1.86 million) was spent on buying electricity from EPS Trgovanje, the Serbian company’s electricity trader registered in Ljubljana, Slovenia.

EPS spent RSD 280.4 million (about EUR 2.4 million) on electricity purchased abroad, from Elektroprivreda Republike Srpske (ERS), the power utility of Bosnian Serb entity Republika Srpska, according to the financial statement.

EPS also published the unconsolidated audited financial report of its subsidiary EPS Distribucija, the distribution system operator, showing a net profit of RSD 2.4 billion (about EUR 20.3 million) in 2017.

The two financial reports were audited by PricewaterhouseCoopers (PwC).