Energy company (EPCG) could achieve record business results and a profit of over EUR 100 million this year, announced the company’s executive director, Nikola Rovčanin.
He said that it is very difficult and ungrateful to give a projection of the company’s business results at the end of the year, because they depend on a number of circumstances such as hydrological conditions, the level of accumulations, technical correctness, availability and capacity utilization, market conditions and price movements on the energy exchange.
“Having all this in mind, and based on the existing business results and the state of technical readiness and availability of production facilities, with average hydrological conditions and respectable prices on the market until the end of the business year, with a caring and dedicated attitude of the administration, management and all employees of EPCG, we should expect to achieve record business results that could reach and even exceed a profit of EUR 100 million,” Rovčanin said.
He also announced that the reconstruction of the Thermal Power Plant (TE) in Pljevlja is proceeding according to plan and that it is expected to be completed in 2025, when a longer stoppage of six to seven months will also be planned.
“About 44 percent of the value of the contract has been realized so far. It is one of the most important projects of EPCG, because after its implementation, the Pljevlja Thermal Power Plant will meet all the criteria prescribed by EU directives for this type of facilities, which will ensure the stability of the country’s energy system,” said Rovčanin.
He added that the Pljevlja Thermal Power Plant has a regular two-month shutdown due to overhaul every year, and that the shutdown in 2025 will be four to five months longer than usual, and that EPCG will therefore have around 500 up to 600 GWh less production.
“It is planned that part of that production will be replaced by production from hydroelectric power plants and entering this period with the highest possible level of accumulations.” EPCG is also developing several solar projects, as well as the Gvozd wind power plant, which we expect to enter the grid before the major TE shutdown. Part of the energy will certainly be provided from imports, and we cannot know the total value at this moment, because the prices of electricity on the stock exchange change every day,” said Rovčanin.