Bosnia and Herzegovina: Three times more electricity purchased than last year, these are the reasons, SEE Energy News
The overhaul of RTE “Gacko” and the minimal production at HPP “Trebišnjica” are the main reasons why Elektroprivreda RS purchased three times more electricity on the market this year than last.
At the same time, this public company had one and a half times less electricity for sale than last year.
This is confirmed by the data we received from Elektroprivreda RS, and the cross section was made on December 21 this year.
As of this date, the ERS has sold just under 1,400 gigawatts of electricity from balance sheet surplus for € 74.03 million. For comparison, almost 2,200 givats of electricity were sold in the same period last year for € 94.74 million, Srpskainfo reports.
From this it can be concluded that in the ERS this year achieved a significantly better selling price compared to 2018.
Of the total electricity sold, 72 percent relates to customers from abroad and foreign companies that have subsidiaries in BiH, and the rest was sold to the Brcko District, the Independent System Operator in BiH and the other two power companies in Bosnia and Herzegovina.
In this company, they explain that electricity trade is based on the Electricity Balance Sheet, which is adopted by the decision of the RS Government, and is realized on the SEEPEX Stock Exchange, the bilateral market and the balance market.
-Electric surpluses are sold through international tenders on an annual, monthly, weekly, daily or intraday basis, depending on the available surplus electricity, which is determined by the work plans – stated in the ERS.
At the same time, ERS purchased almost 358 gigawatt hours of electricity for € 21.91 million by December 22 this year. In the same period last year, 123.49 gigawatts were purchased for 8.29 million euros, indicating that last year there was a higher purchase price.
Electricity is purchased in conditions of production deficit, due to power plant downtime, poor hydrological conditions, increased consumption and optimization of hydro-thermal production.
Elektroprivreda RS could not tell what kind of financial result they expect at the end of the year.
-At the end of February 2020, all subsidiaries operating within MH “ERS” submit their financial statements, after which the consolidated financial statement is prepared and the deadline for its submission is April 30, 2020.
Therefore, it is too early to speak about the results of holing – said this public company.
By the way, the ERS has foreseen a loss of around KM 20 million by rebalancing the financial plan, but now, as we informally find out, a positive result will be achieved.
A problem for HET
Hydroelectric power plants in Trebisnjica are currently in their worst period of 51 years. They produce 46 percent of the plan and have a KM 10 million shortfall in business, which is why the entire ERS, two local communities and the entire RS are at a loss.
The reasons are objective in nature – Hydroelectric power plant in Dubrovnik, in which HET has its legacy plant, is off the grid since the beginning of the year due to an accident. There is no official information on when the problem will be resolved.