Serbia, EPS recorded profit of 97 million euros in H1 2021

, News Serbia Energy

The successful business trend of state-owned power utility EPS was also shown by the latest financial results, according to which a net profit of about 97 million euros was realized in the first half of 2021. The profit in the first six months of the year was about 12.7 million euros higher than in the same period in 2020.

EPS performed positively, although the price of electricity for households is significantly lower than in the region and Europe. Thus, in the first half of this year, the average price for households on a guaranteed supply was 0.065 euros/kWh, of which the price of electricity was 0.031 euros/kWh and the rest is the price of access and use of the distribution system, which is not EPS revenue.

EPS’ revenues also increased in the first half of the year and were 9 % higher than planned amounting to 1.28 billion euros. Of the total operating income, 95 % is income from the sale of electricity, EPS’s core business.

Thermal and hydropower plants operated by EPS produce enough electricity from domestic coal and hydro potential for reliable and stable supply of the entire Serbian market. In addition to supplying about 3.6 million EPS customers, the company also successfully trades in electricity exchanges.

In the first half of 2021, a total of 18.3 billion kWh of electricity were produced, which is eight % more than in the same period last year. Excellent hydrology and modernized units have enabled hydropower plants to produce 7.2 billion kWh, which is even 53 % more than in the first six months of 2020. The production of EPS hydropower plants from January to June this year was the highest in the first half of the year, observed in the period from 1990 until today.