The Serbian Power Utility Controversial Deal Boosting a Private Bank

Electricity meters (BETAPHOTO)

A decision made by Serbia’s national power utility, Elektroprivreda Srbije (EPS), to move the account used by Belgrade residents to pay electricity bills from the Finance Ministry’s Treasury Administration to the private Alta Bank has triggered criticism from experts, and sparked suspicions of yet another corrupt deal supported by the state. The move is believed to be part of long-term preparations for the privatization of EPS, Serbia’s largest state-owned company, but what it certainly facilitates is another lucrative opportunity for the people close to the authorities.