Bosnia: RiTE Ugljevik achieved 1.4 million euros net profit in 2016

, SEE Energy News

Coalmine and thermal power plant (RiTE) Ugljevik recorded a net profit in the amount of 1.4 million euros in 2016, compared to a loss of 9.3 million euros a year earlier.

According to the financial report, the company’s total revenues amounted to 74.6 million euros last year, which is a 3 % increase compared to 2015, while total expenditures rose by 1 % to 73.2 million euros.

Last year, TPP Ugljevik delivered 1,749,969 MWh of electricity to the energy system of the Republic of Srpska, which is slightly above the planned production of 1,747,000 MWh. Good results in electricity production were followed by similar results regarding coal production. The company produced 2.02 million tons of coal in 2016, which is 6 % more than planned 1.895 million tons.

However, the plant produced 150,000 MWh of electricity in extremely cold January, thus fulfilling 93.5 % of the planned production. The results were similar regarding coal production, as it stood at 124,343 tons or 95 % of the planned amount, while the excavation of overburden reached 550,000 cubic meters, which is 17 % above the plan. Power plant was shut down on several occasions during the month, with the total offline time of 99 hours, mostly due to issues with the pipe system.