EPS records RSD 26.8 billion profits in 2011

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The Electric Power Industry of Serbia (EPS) recorded RSD 28.6 billion worth of profits (EUR 1 = RSD 110) in 2011, EPS Director General Dragomir Markovic stated on Friday.

During a news conference, Markovic stated that the money would be spent on investments which should total EUR 350 million in 2012, while EUR 180 million would be invested in repairs.

He noted that the company’s value increased to EUR 12 billion relative to 2007, when its value was estimated at EUR 7 to 8 billion, and added that the main reason for this lies in investments which total between EUR 400 and 500 million annually.

Markovic underscored that EPS achieved record electricity production of around 36 billion kWh in 2011, while coal production totalled 40.2 million tons, and that surplus made in the export of electricity totalled around 245 GWh.

Markovic said that there are no indicators that the price of electricity might increase.

Source Emg