Electricity (BETAPHOTO/Milan Timotic)
Elektroprivreda Srbije (EPS) electricity utility’s profit in the first half of this year amounted to 32.8 billion dinars - 9.4 billion more than planned, the company reported on Aug. 12 after its assembly had approved the utility’s mid-year financial report.
Minister of Mining and Energy Dubravka Djedovic-Handanovic, who is also the representative of the founder at the EPS Assembly, said that it’s very important that the financial success was reported after electricity prices for commercial customers had been reduced considerably. The minister also said that in the coming period it’s necessary to continue reducing operating costs, and accelerate investment projects to improve coal and energy production.
"Unqualified and malicious people say the opposite, repeatedly pointing to some losses in energy trading, but the results are clear – in six months, EPS made a profit of EUR 23 million in open market trade," said Djedovic-Handanovic said.
In the first half of the year, the share of energy production from the hydro sector and renewable energy sources in EPS reached 37.5%, coal reserves and reservoir levels were maintained, which, along with overhauls and modernization, is an additional guarantee for secure and reliable production, the company added in a release.
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