Electric power of Serbia (EPS) since 2002 to 2011 invested 4 bill euros in modernization and capacity production increase of its power gen units, stated General Manager of EPS Dragomir Markovic.
These investments in period of 2002-2005 in average were around annual 250 mil euro, and starting from 2006-2011 annual investment budgets were 500 mil euro per year, explained Markovic.
Markovic reminded that EPS achieved in 2011 the earnings of 260 mil eura and explained that the new estimated value of the company is 12 billion euros.
In an interview given to company magazine Kwh, Markovic explains that the investments increases the security of the equipment and facilities, reliability and availability of capacities.
As result of this investments the electricity production is increased for 39% and facilities availability increased from 2001 average of 68,5% to 81,3% in year 2011, stated Markovic.
The usage of capacities is also increased, from year 2001 usage of 55,3% to 76,7% in year 2011. With investments into thermal power generation facilities and hydro sector additional 397MW were gained, out of which 332MW in thermal sector for which EPS invested 470 mil euros, stated Markovic and explained that for this amount new power plant could not be constructed.
Comparing the data on electricity trading from 2011, Markovic explained that EPS achieved positive net result with sales of electricity of 245 mil kwh. But due to the over planed winter imports of electricity on beginning of 2012, such a result will be hard to achieve this year.
General Director of EPS explained that households users annually consume 15 bill kwh of electricity and out which almost 5 bill kwh is used for heating which leads to the conclusion that consumption is irrational and inadequate as well as the electricity price policy.