Serbia: GazpromNeft NIS Oil company plans electricity trading expansion in SEE region

25. May 2015. / News Serbia Energy

In accordance with its strategic aim to become the regional energy leader, Gazpromneft Oil company of Serbia NIS plans to further develop its electricity trade in all countries in the region.

The first quantity of electric power produced in NIS cogeneration plants was sold in the fourth quarter last year. Thus, along with the Serbian Electric Power Company EPS, NIS became the only producer in Serbia supplying electricity in the free market.

Electricity produced this was is delivered to external consumers, i.e. to the national electricity market, while heat energy is used by the Company for its own needs.

NIS expect that by the end of this year the volume of NIS trade on a monthly level will grow up to 100 GWh.

In accordance with its strategic aim to become a regional energy leader, NIS plans to further develop electric power trade in all countries in the region. Foreign subsidiaries of NIS are currently undergoing the licensing process for this business,  which will allow NIS to approach new markets and extend its partner network.

A wider presence in the region will increase the electric power trade flexibility and increase the range of products. By extending its partner network and by further development of its new business activity NIS will increase its brand recognition in the countries in the region and its brand strength.

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