Serbia: EPS must be a joint-stock company says CEO Obradovic

Published on 23. October 2013., News Serbia Energy

Belgrade – Acting Director of the Electric Power Industry of Serbia (EPS) Aleksandar Obradovic urged the state authorities to approve the changes of the Statute of EPS as soon as possible. According to him, that company could afterwards continue to reorganize and operate profitably.

The Government of Serbia has adopted starting points for the reorganization of EPS last year, and there is clearly stated that the change in the EPS Statute is necessary, or that the company exceeds from a public company into a joint stock company, Obradovic told reporters in Belgrade.

The first step in the reorganization of the company is changing the Statute, and we that it will happen expect in the near future. I hope and urge to change the Statute EPS so that the company could continue to enter into the process of corporatization, and change the management, Obradovic said.

He pointed out that the management of EPS at present can do nothing in this regard, while the state, as the owner of the company, does not allow a change of statute, pointing out that this is also important for the coming preparation of a new phase of liberalization of the electricity market, which will be made by early next year.

EPS can not operate sustainably and profitably if the reorganization fails to perform, as well as the corporatization of the company, said Obradovic, and pointed out that the organizational changes within EPS currently do not follow the challenges of a liberalized electricity market.

The reorganization, he said, will help the company to be profitable, and to become the engine of economic growth in Serbia.

Source; Serbia Energy/EPS