Serbia: IMF&WB tailoring electricity prices of power utility EPS?

10. February 2016. / News Serbia Energy

Serbia power utility EPS (Elektroprivreda Srbije) will not increase the electricity prices despite the earlier announced 2016 price adjustments which is being agreed with IMF and World Bank.

The reason for this is a price drop in Europe and the region – another analysis of trends will be carried out and a conclusion made in collaboration with the IMF and the World Bank about what should be done, Obradovic said, adding that the EPS will be reorganised successfully and in close cooperation with major stakeholders EBRD, IMF and WB.

β€œThe EPS is a positive example of successful implementation of the government policy aimed at reforming public enterprises,” Obradovic explained.

For now, the EPS is operating with great success even though, under an approved plan, it should have been a loss-making company, Obradovic said, adding that the EPS will generate a surplus in excess of RSD 2 billion. That is a result that is almost EUR 200 million better than expected, he stressed.

EBRD earlier approved 200MEUR loan for EPS financial support, ie loan restructuring.

Local medias and energy experts raised the question is EPS hiding behind IMF and WB or its being managed by them, transmits Serbia-energy.eu

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