Serbia: EPS becomes a joint-stock company, aims more electricity exports

, News Serbia Energy

Energy Minister Zorana Mihajlovic said that EPS will become a joint stock company by the end of this year and for now it will not be privatized. “Some of the activities of EPS will be centralized and more efficient,” said Mihajlovic at the Regional Investment Summit in Arandelovac. “The current export of electricity from Serbia is sporadic, and the state wants to make at least one plant and to once again become an exporter of electricity, because it has a shortage of electricity in the region since 2001,” said Mihajlovic.

The Minister said that the power plants will be constructed with different participation of EPS and with the new financial models.

One of the reasons not to privatize EPS is that Serbia might be ” distributor and warehouse of electricity” in the region, the minister said.

Mihajlovic has warned EPS to take care of liberalization of the market because they had lost one customer by opening the market for high voltage.

She said that as of 1 January 2014 opens the market in the medium voltage to approximately 3,100 customers, and from 1 January 2015 in Serbia all consumers will be able to purchase electricity from the supplier of their choice.

Managing Director of Fiat Autmobile Serbia Antonio Cesare Ferrara said that, when thinking about investments, you must take into account the price of gas, water and electricity – that these prices are stable.

Ferrara said that he spoke with the directors of other companies in Serbia who want to buy electricity in Germany, and warned EPS and Srbijagas to take into account the intention of companies to look for other suppliers with the opening of market of electricity and gas.

Source; Serbia Energy

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