Serbia, EPS denies that its losses will amount to billion euros

, News Serbia Energy

In a statement, Serbian state-owned power utility EPS said that it will not record a loss of more than a billion euros due to increased electricity imports during this winter, because the losses incurred during winter will be offset by increased electricity exports during spring and partially summer.

The statement from EPS also said that there were no electricity restrictions in the country in the past ten years, adding that seasonal imbalances is one of the basic characteristics of Serbian electricity system.

Earlier this week, Slobodan Nikezic from the opposition party SSP pointed out that EPS is importing more than 2,000 MW of electricity on a
daily basis and such high imports will result in a loss of more than a billion euros for the state-owned enterprise. He also said that the company should be run by professionals.

After the incident at TPP Nikola Tesla complex in mid-December, when almost all units of the two largest TPPs in Serbia were shut down due to wet, low quality coal burned in boilers, Serbian President Aleksandar Vucic said that Acting Director of EPS Milorad Grcic should hand in his resignation. Grcic took the role of Acting Director of EPS in December 2015.