Danas Newspaper: Electricity Company Lost EUR630 Million in 2022 | Beta Briefing

Danas Newspaper: Electricity Company Lost EUR630 Million in 2022

Source: Beta
Archive / News | 09.02.23 | access_time 15:19

Electricity (Free Image)

Elektroprivreda Srbije ended 2022 with net loses of RSD73.7 billion or around EUR630 million, which is an achievement because it had planned to lose RSD97.7 billion, a business report for last year shows, the Danas website reported on Feb. 9.

A shift happened in the fourth quarter of last year as before that the company's net losses were RSD79.5 billion. The company achieved a profit of RSD5.8 billion in the last three months.

The report says that the company achieved better financial results than planned due to reduced purchases of electricity from abroad and a decline of electricity prices on the market. Also, the costs of purchasing coal were reduced. Still, in 2021 the company suffered RDS13.8 billion in losses even though in the first nine months of the year the electricity company reported profits of RSD8.2 billion. Ergo, the company racked up losses of RSD22 billion in the last three months of 2021.

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