Electricity

EPS stretched between revitalization and Serbia’s social politics

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Published

October 21, 2016

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Published:

October 21, 2016

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Electric Power Industry of Serbia (EPS) had EUR 105,2 million profit in the first-half of 2016, and achieved EUR 110 million in savings, said company`s CEO production director Savo Bezmarević at the 16th Serbian economy summit in Belgrade, Tanjug news agency reported.

“After years of stagnation, our facilities are now in pace with the original designed capacities. We have modernized our thermal power stations, but we have to invest between EUR 200 and 300 million every year in order to keep our facilities in full capacity”, he added.

At the Summit`s energy panel, Bezmarević said that first-half profit for 2016 is EUR 80 million above the planned.

“Energy efficiency is crucial for the EPS technical sector, and investments since 2000 have reduced specific energy consumption by 16 percent.”

Speaking about ongoing projects, he presented the project of coal homogenization in Kolubara, valued at EUR 180 million. This project ends in 2018 and it will improve production in coal-based thermal power stations.

Second project is revitalization of Zvornik hydro power plant, EUR 70 million worth, in order to boost its capacities for 30 percent.

Third project is EUR 70 million investment for the revitalization of B2 block in Nikola Tesla thermal power plant in Obrenovac on river Sava. This should increase the aggregate life-cycle and upgrade facility capacity with a new 30 MW.

“The largest investment we have today is the construction of the additional facility of 350 MW in thermal power plant Kostolac on the Danube.”

On the other hand, as was pointed out at the panel, due to the electricity pricing policy, heavily influenced by social politics, EPS practically donated around EUR 15 billion since 2000. This exceed by far all incomes from country`s transition privatization process or help received from international financial institutions.

As participant the panel concluded, every year EPS is losing EUR 1,3 billion due to social politics in electricity prices.

 

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