Severe operational disruptions have pushed the coal mine and thermal power plant (RiTE) Ugljevik into a sharp financial downturn at the start of 2026, with first-quarter losses significantly exceeding last year’s total deficit. The company recorded a loss of 18.3 million euros in the first three months of the year, surpassing the full-year loss for 2025 by around 4 million euros, which highlights the scale of the deterioration.
The main driver behind the negative result was a collapse in revenue. Income fell sharply from 18.8 million euros in the same period last year to just 2.2 million euros, while total expenses remained largely stable at over 20 million euros.
Management attributed the situation to a suspension of both electricity and coal production that began early in the year. The halt was caused by insufficient coal supply, linked to delays in overburden removal and development works at the Ugljevik Istok open-pit mine. These operational setbacks prevented the plant from maintaining normal activity and directly impacted financial performance.
The facility, one of the key power producers in the Republic of Srpska (RS), has been offline since 12 January but has recently returned to operation. This restart marks an important step in stabilizing output after weeks of disruption.
In parallel, RS authorities have taken measures aimed at securing its long-term future. The government acquired Comsar Energy RS and its concession for the Ugljevik Istok 2 mining site for over 120 million euros. This move is expected to provide a new resource base for recovery and future operations, supporting longer-term stability of the plant.
