Serbia: EPS Supervisory board adopted Annual Business Program, financial and investment plans 2014

, News Serbia Energy

Contracted prices for the delivery of electricity to the qualified buyers are at a higher level than those originally planned. – The yield from electricity has increased by 7.2 billion RSD. – adopted ABP for 2014 should soon be approved by the Ministry and adopted by the Government of Serbia.

At the meeting of Supervisory Board of the public enterprise “Electric Power Industry of Serbia“, held on February 19, presided by prof.dr. Aca Marković, president of SP JP EPS, the Annual Business Program of JP EPS for 2014 is adopted, as well as the programs of dependent companies. In addition to the members of SB, the meeting was attended by the members of the management of EPS, directors and representatives of companies.

As it was stated at the SB meeting, a new Annual business program for 2014 has been agreed with macroeconomic presumptions and data from the fiscal strategy for 2014 and including projections for 2015 and 2016, disclosed in December last year, after the adoption of the original version of ABP. The data in the adopted ABP were affected by the current conditions in the electricity market.

– As the contracted prices for  electricity delivery  to qualified buyers are at a higher level than those originally planned, so the electricity yield has increased by 7,2 billion dinars –  it was stated at the meeting  – News concerning ABP are related to two hydro power plant that are within the company “Drinsko-Limske HPPs“ that have the status of privileged electricity producers.

By the new plan, total incomes are enlarged by 6,9 billion RSD, to 240 billion RSD, while the expenditures are reduced by 5,8 billion RSD and amount to 240 billion RSD as well. According to Mr. Dejan Trifunović, assistant minister of energy and a member of EPS SB, adopted ABP for 2014 should soon be approved by the Ministry and afterwards by the Government of Serbia.

The director for internal audit and control of the business system  of “Electric Power Industry of Serbia“, Mr. Jovan Koprivica has introduced the members of SB with the Report of the State Audit Institution on the conducted audit of financial reports of JP EPS and with the proposal of Feedback Report. The members of the Supervisory Board of JP EPS have considered  and accepted the initiative for merging  the Company “Autotransport“ to the “TE-KO Kostolac“.

Milan Vujaković, the coordinator for legal issues of investments in the production, in the Department of strategy and investments of EPS and a member of the Working Group for the  implementation of Energy Agreement, achieved in the technical dialogue of Belgrade and temporary institutions of self-government in Priština, informed the SB members on the current situation. Mr. Vujaković has pointed out that the Working Group has concluded at the meeting held on February 5, that the activities related to formation of the new energy subject should be continued in the north of Kosovo and Metohija in order to realize obligations undertaken from the technical dialogue.

Source; Serbia Energy