Bosnia: EPBiH achieved record income in 2016

, SEE Energy News

Bosnian power utility EPBiH achieved a record income of 528.5 million euros in 2016, which is by 25.5 million euros more than in the previous year. The company’s profit in 2016 amounted to 6.57 million euros.

According to the statement from EPBiH, despite the fact that 2016 is the first fiscal year in terms of liberalized electricity market and despite bas hydrological and weather conditions, the achieved financial results that are significantly higher than planned and those achieved in 2015 are clear indicators of successful operation of the company.

Last year, EPBiH produced 7,244.7 GWh of electricity, mostly in thermal power plants Tuzla and Kakanj, while seven coalmines operated by EPBiH produced over 5 million tons of coal, which is 445,000 tons or about 10 % more compared to the previous year.

While maintain the status of the largest producer and supplier of electricity in the country, EPBiH also maintained the status of one of the largest investors in Bosnia and Herzegovina. In July 2016, the construction of 19.6 MW hydropower plant Vranduk on the river Bosna ha started, a project worth 57.4 million euros, which will be the first HPP built in BiH in the last 40 years. The company has also signed a contract for the construction of 48 MW wind farm Podvelezje and is in the process of obtaining a loan for the construction of a new unit 7 at TPP Tuzla.

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