Electricity

Power utility EPHZHB logs EUR 19.7 million profit in H1

Photo: Pixabay

Published

August 16, 2018

Comments

0

Share

Published:

August 16, 2018

Comments:

0

Share

Public power utility Elektroprivreda Hrvatske Zajednice Herceg Bosne (EPHZHB) made a profit of BAM 38.7 million (around EUR 19.7 million) in January-June, up from BAM 452,076 (about EUR 230,000) in the first half of 2017. This is in keeping with strong results posted by power utilities elsewhere in the region on the back of good hydrological conditions.

Mostar-based EPHZHB had operating revenues of BAM 214.8 million (around EUR 109.5 million) in the first half of 2018, up from BAM 139.7 million (some EUR 71.3 million) in the same period a year earlier. Its operating expenses were at BAM 175.8 million (approximately EUR 89.7 million) in H1 2018, compared to BAM 144.2 million (around EUR 73.5 million) in the like period the year before.

EPHZHB reported a profit of BAM 237,441 (about EUR 120,000) in 2017, which it used for covering losses from previous years. It produced 1,287 GWh of electricity last year, down 18.26% compared to the planned level due to drought.

The company produces electricity solely from renewable energy sources, with most of its capacities consisting of hydropower plants.

EPHZHB is majority owned by the Federation of Bosnia and Herzegovina (FBiH) and is one of the Bosnian entity’s two power utilities, the other being Elektroprivreda BiH (EPBiH). The entity of Republika Srpska also has a power utility, Elektroprivreda Republike Srpske (ERS).

EPBiH posted a profit of around BAM 28 million (some EUR 15 million) in the first half of 2018, after registering a loss of nearly BAM 23 million (about EUR 12.4 million) in H1 2017. EPBiH was the top company by revenues in Bosnia and Herzegovina (BiH) in 2017, of BAM 1.114 billion (about EUR 570 million), according to reports.

For its part, ERS made a EUR 28.6 million profit in the first half of 2018, acting General Manager Radmila Čičković has said. In H1, ERS sold 1,687.7 GWh of electricity worth around EUR 66 million on the market, investing about EUR 38 million in new facilities and the modernization and reconstruction of the existing ones.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Greece, Bulgaria offer best returns on battery investments in Europe

Greece, Bulgaria offer best returns on battery investments in Europe

27 February 2024 - Investments in battery storage offer the opportunity for profitable energy arbitrage, according to Rystad Energy

EBRD reiterates commitment to Western Balkans decarbonization

EBRD reiterates commitment to Western Balkans decarbonization

27 February 2024 - EBRD intends to expand its activities in the Western Balkans, but it warned that private investment and EU funding imply reforms

IFC loan Serbia largest biomass CHP decarbonize paper industry

IFC approves loan for Serbia’s largest biomass CHP project to decarbonize paper industry

26 February 2024 - IFC facilitated a loan package of EUR 106 million for Serbian tissue paper producer Drenik ND, which is about to build a biomass CHP plant

Viktor Andonov BEF 2024 North Macedonia ESM EUR 1 billion decarbonization

Viktor Andonov joins Belgrade Energy Forum 2024 in May: ESM earmarks EUR 1 billion for decarbonization

26 February 2024 - Viktor Andonov from North Macedonia's power utility Elektrani na Severna Makedonija (ESM) will participate at Belgrade Energy Forum 2024