State Power Utility Acting GM: EPS Is Top Electricity Exporter in the Region, Reporting EUR55 Mil in Profit in Q1

Electricity (BETAPHOTO/EMIL VAS/EV)

Serbian electric power utility company Elektroprivreda Srbije (EPS) acting General Manager Miroslav Tomasevic on April 4 said that EPS was the leading exporter of electric power in the region, which in the first quarter of this year registered a profit of EUR55 million, or EUR5 million above the plan.  

In the first four days of April, EPS earned EUR4 million in wholesale of electricity, according to the public enterprise. In the first three months of 2023, EPS generation capacity reached 9.76 billion of KWh, up 17 percent year-on-year.  

“The hydropower situation is considerably better than in 2022 and generation of EPS’ hydropower plants registered a 32 percent increase against the same period last year,” the company said. In terms of thermal power plants, electricity generation in the first three months of 2023 is up 10 percent year-on-year.

The Serbian Energy Ministry on April 4 said that “professional management will ensure more efficient operation and turn EPS into a regional energy giant, which is the Government’s ultimate goal, aiming toward the proposed transformation from a public enterprise into a closed joint-stock company, where the state would have a 100 percent stake.”