Bosnia and Herzegovina: Halved profit of EPBiH

, SEE Energy News

Bosnian power utility EPBiH said that it has recorded a net profit in the amount of 3.7 million euros in 2020, compared to net profit of 10.25 million euros recorded in the previous year. The company’s 2020 operating revenues remained approximately the same as in 2019 and amounted to around 510 million euros, while its operating costs decreased by 1 % to 495.2 million euros. According to its 2020-2022 business plan, EPBiH will invest 951 million euros, mainly in the construction of new electricity generation facilities. Of the total amount, EPBiH will invest some 412 million euros from its own sources, while the rest will be obtained through loans. Among the priority projects are the construction of its first wind farm Podvelezje with installed capacity of 48 MW, which has already started, and the construction of a new 450 MW unit of coal-fired thermal power plant Tuzla, which will replace old, obsolete units. The company also plans the construction of a series of small hydropower plants (SHPP) on the Neretvica river and the construction of HPP Janjici and Vlasic wind farm. EPBiH recorded a net profit in the amount of 10.2 million euros in 2019, which is significantly lower compared to the net profit of 26.5 million euros recorded in the previous year. The company’s operating revenues remained approximately the same as in the previous year, reaching around 510 million euros, while its operating costs increased by 0.7 % to 500 million euros.