Serbia: EPS power utility company Supervisory board, 2014 business plan adopted

Published on 24. February 2014., News Serbia Energy

At last week meeting of Supervisory Board of Public Enterprise” Serbia Power Utility Company”, chaired by Dr. Aca Markovic, president of SB PE EPS, were adopted amended Annual business plan of PE EPS for 2014^th and business programs of subsidiary companies. In addition to the SB members, the meeting attended members of the EPS management, directors and representatives of subsidiaries.

As it was announced at the SB meeting, new Annual Business plan for 2014^th is in compliance with macroeconomics assumptions and data from Fiscal strategy for 2014^th and with projections for 2015. and 2016, which was published in December last year, after the adoption of ABP previous version. Data in adopted Annual business plan were also influenced by current situation at open electricity market.

– As the agreed prices for the electricity delivery to eligible customers are at a higher level than it was originally planned, revenue from electricity generation has also increased by 62 MEUR – it was said at the meeting. – Changes in ABP refer at two hydro power plants within Subsidiary “Drinsko-Limske HPPs”, which had acquired the status of privileged power producers.

By the new plan, total revenues increased by 54 MEUR to 2 billion EUR, while expenses decreased by 50 MEUR and also amount to 2 billion EUR. As said Dejan Trifunovic, Deputy Minister of Energy and a member of SB PE EPS, adopted ABP for 2014^th should soon receive approval of ministries and then to be subsequently adopted by the Government of Serbia.

The director of internal revision and control of EPS business system, Jovan Koprivica informed SB members about Report of the State Reviser Institution on the revision of the EPS financial statements and the proposal of Responsive report. Members of the Supervisory Board of the EPS discussed and accepted the initiative for the merger Subsidiary “Autotransport” Company “TE-KO Kostolac”.

Milan Vujakovic, coordinator of the legal issues on investment in production in the EPS Directorate for strategy and investments and Working Group member for the agreement implementation in the energy sector, which has been made in the technical dialogue between Belgrade and the Provisional Institutions of Self-Government in Pristina, informed the members of SB EPS on the current situation. Vujakovic said that the Working Group at the meeting held on 5^th February concluded that it should continue with the activities associated with the establishment of a new energy entity in the north of Kosovo and Metohija in order to implement the commitments of the technical dialogue.

Source; Serbia Energy