Bosnia and Herzegovina: RiTE Ugljevik’s profit in 2020

, SEE Energy News

In 2019, Bosnian coalmine and thermal power plant (RiTE) Ugljevik recorded a net profit in the amount of some 760,000 euros in 2020, compared to a loss of 2.2 million euros. The company’s revenues in 2020 increased by 1.1 % year-on-year and amounted to 72.6 million euros, while its total expenditures rose by 0.8 % to 71.7 million euros.

In late 2020, RERS approved 15 % higher purchase price of electricity for RiTE Ugljevik. According to initial estimates, annual revenues from electricity sales of RiTE Ugljevik will reach over 29 million euros, which is by some 3.5 million euros more than before. However, the producer’s initial request was not entirely fulfilled because they asked for an increase of 20 %. TPP Ugljevik provides about a third of electricity in the Republic of Srpska. In late 2019, the newly installed flue gas desulfurization facility at coal-fired thermal power plant Ugljevik, a project worth some 80 million euros, has entered trial operation. The facility was officially put into operation in October 2020, but later it was turned off due to the lack of operational permit.