Serbia, EPS recorded a net loss in the amount of some 420 million euros in H1 2022

, News Serbia Energy

Serbian state-owned power utility EPS recorded a net loss in the amount of some 420 million euros in the first half of 2022, compared to a profit of 95.5 million euros in the same period last year.

The company’s revenues rose by 16.1 % year-on- year, reaching 1.5 billion euros, but the expenditures almost doubled and amounted to 1.82 billion euros in the first six months of this year .

In the first half od 2022, EPS produced a total of 15.4 TWh of electricity, which is 1 % below planned amount, but 16 % less compared to the same period in 2021. Output of hydropower plants was 17 % above the plan in H1 2022, while output of coal-fired power plants was 1 % higher than planned. On the other hand, electricity generation of renewable energy facilities was 56 % below planned.