Bosnia: Power utilities recorded losses for 2015

7. April 2016. / SEE Energy News

Only one of the three electric power industry companies in BiH concluded the previous year with profit, but two operated at a loss of around 70MEUR, so the overall balance of the BiH energy sector is the worst since the war.

The Electric Power Industry of BiH concluded the previous year with the minimum net profit of around 1.3MEUR, which is a somewhat better result than a year before when the profit had amounted to 1.6MEUR.

The second largest company, the Electric Power Industry of the Republic of Srpska, i.e. the companies it includes, operated at a loss of around 20MEUR. This is a significantly worse result as compared to the year before, when the Electric Power Industry of RS had also operated at a loss, but almost a half smaller than last year.

The biggest loss in this electric power industry was made by the two thermal power plants -“TPP Gacko“ and ”TPP Ugljevik“, whereas the three hydro power plants operated with a minimum net profit, so the overall business balance of the Electric Power Industry of RS is catastrophic.

However, the biggest loss was made by the smallest electric power industry in BiH, which includes only two hydro power plants. Namely, the Electric Power Industry of the Croatian Republic of Herzeg-Bosnia concluded the previous year with the record loss of around 50MEUR which is hard to explain considering that this public company had concluded the year before with the profit of around 2.5MEUR.

In addition to the record loss, another worrying fact is that the three electric power industry companies achieved such drastically different business results under equal business conditions (identical electricity price) – from the minimum profit of the Electric Power Industry of BiH to the record loss of the Electric Power Industry of Herzeg-Bosnia, transmits Serbia-energy.eu

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