Electricity

Serbia’s EPS 2020 profit more than doubles to EUR 137 million

eps profit 2020 hidroelektrana medjuvrsje

Hydropower plant Međuvršje operated by EPS (photo: EPS)

Published

April 21, 2021

Country

Comments

0

Share

Published:

April 21, 2021

Country:

Comments:

0

Share

State-owned power utility Elektroprivreda Srbije (EPS) has posted a RSD 16.2 billion (EUR 137 million) profit for 2020, more than double compared with 2019, when it stood at RSD 7.2 billion (EUR 61.1 million).

Elektroprivreda Srbije last year produced 34 TWh of electricity, up 2% compared with 2019. It realized investments in the amount of RSD 37.7 billion (EUR 320 million), out of which RSD 11.8 billion (EUR 100 million) was invested in environmental protection projects.

The company has also maintained good results at the beginning of this year, tripling its electricity sales on power exchanges in the period from January 1 to April 6 against the same period last year and generating revenues of about EUR 74 million, the company said.

EPS invested EUR 100 million in environmental protection, with total investments reaching EUR 320 million

In the year to April 6, a total of 1.4 TWh was sold on the power exchanges. The main reason were good hydrological conditions, the company said.

Hydropower plants produced 4 TWh in that period, an increase of 50% compared with the same period in 2020 and 27% compared with 2019.

In 2021 EPS will invest in thermal power plants, hydropower plants, mining equipment, green power plants

EPS’ total electricity output in this period was about 11 TWh, which is 9% more than in the same period in 2020 and 6% more than in 2019.

Milorad Grčić, acting director of EPS, said that investments will continue in 2021. “The goal is to upgrade the existing thermal power plants, hydropower plants, mining equipment, while a particular challenge is the opening of modern mines and the construction of new green power plants,” he added.

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

HEP-HPP-Senj-overhaul-capacity

HEP to increase HPP Senj installed capacity by 20 MW

06 May 2021 - Croatian state power company HEP is replacing equipment at HPP Senj as part of a project that will boost the hydropower plant’s capacity by 20 MW.

Drina-Buk-Bijela-hydropower-plant

HPP Buk Bijela groundbreaking to be held on May 17

04 May 2021 - A groundbreaking ceremony for hydropower plant (HPP) Buk Bijela on the Drina river, a joint project of Serbia and the Serb-dominated entity Republic of Srpska, will take place on May 17.

montenegro necp coal phaseout climate neutrality zdravko krivokapic

Montenegro to set coal phaseout deadline in national energy and climate plan – prime minister

30 April 2021 - The country is preparing a new energy strategy, which will put priority on renewable energy sources in order to achieve climate neutrality.

Greece coal phaseout deadline 2025 2028

Greece pushes coal phaseout deadline to 2025 from 2028

29 April 2021 - Coal-fired thermal power plant Ptolemaida 5, the last of its kind in Greece, is set to be converted to gas in 2025, three years earlier than planned