Bosnia/Republika Srpska: TPP Ugljevik, negative operating result during the nine months

, SEE Energy News

Mine and Thermal power plant Ugljevik recorded operating loss loss of 16, 8 MEUR for the nine months of this year. The management of this public company argues that such operating income is a result of a technical nature.

Specifically, as stated in the business report of RiTE Ugljevik, published on the Banja Luka Stock Exchange, minus of more than 16, 8 MEUR in the period January – September 2014th , in the first place happened due to unrealized plan for electricity production because of unplanned extension of regular overhaul , caused by a malfunction in the generator, for a total period of 71 days.

Also, at the amount of realized negative operating results, apart from the loss of revenue based on unrealized production, influenced the additional costs of unplanned turbogenerator repair and increasing of legal obligations under the Law on Fees for the use of non-renewable resources and the Law on Solidarity Fund in RS.

The company RiTE Ugljevik, generated revenues of 40, 83 MEUR for period January – September 2014, of which revenues from electricity sales were 40, 22 MEUR. At the same time, total expenditures were “staggering” 57, 64 MEUR.

The company management has led to the elaboration of business plan RiTE Ugljevik for 2014, and that management takes all measures and activities designed to achieve the best possible business results.