Serbia: Power utility co EPS marks records in electricity and production, financial result increases stability of the company

14. April 2014. / News Serbia Energy

Last year was very successful for “Electric Power Industry of Serbia” in terms of production and finance. The record of 37.4 billion kWh was reached. We could not have imagined such production 10 years ago. And there was a financial result as well.  Crisis from the beginning of 2013 was avoided by some urgent measures and the year finished with a surplus of 164MEUR (19 billion RSD). That is the best result of EPS in last seven years and EPS’s profit took the second place, right after “Petroleum Industry of Serbia”.

The winter, mild and well-disposed to energy system, was good for EPS. The trade made us proud and EPS ended the heating season as a very successful trader. That is how EPS proved that they can be very wise market players and that they are ready for the most complicated games in European league, which is the aim of opening the company “EPS Trading” in Slovenia. It will be the real chance to show what domestic mind can do in European “yard”.

However, the good results do not leave room for sleeping. A very busy overhaul season is ahead of the miners, workers in power plants and power utilities. Everything has to be done before the next heating season.

At the open pit mines of “Kolubara” and “Kolstolac” new overhauls are about to start these days, and at the beginning of March, very demanding revitalization of Unit B1 started in thermal power plant “Kostolac B”. Everything that used to take three years to be done at Unit B2, now will be done by 1st December. The aim is to reach the power of 350 MW, just like it was done at Unit B2. Chinese workers are ready, as well as ours, to participate in the project. If everything goes according to the plan, 1st December is the date when the Unit B1, which will have been modernized by European standards, will be connected to the network.

In TPPNT, they also prepare the big overhaul for Unit A3 which will enhance the power and efficiency of this Unit. Also, the works in our biggest hydro power plant “Đerdap 1” are very much in progress, and after the successful revitalization of HPP “Bajina bašta”, the preparation for modernization of HPP “Zvornik” is currently taking place.

Last year was historical for abolishing the monopoly of the high voltage. The continuation of changes seems to have accelerated, because, regardless the market opening for the middle voltage since 1st January, the opportunity for absolute liberalization of the electricity market is announced for 1st July. That is how the small customers and households will get the opportunity to choose their own provider, and a great number of traders will be able to challenge EPS in terms of prices.  According to the statements, this year will also be very significant for EPS. As of 4th March, the new Articles of Association PE EPS are valid, and some changes in founding acts of companies are to happen. It has been announced that EPS will soon become a joint-stock company, because it is about time for the company which is oriented towards market to bear the name of public enterprise. There is also the commencement of reorganization in EPS and introduction of corporate management.  According to the announcements of the first man in EPS, then we would know who does what and what is whose responsibility, and numerous irrationalities would be corrected. Reorganization should help to avoid shifting the responsibilities.

The changes are ahead of us, and they should be carried by people. They are the greatest value and strength which can make those changes. With the ability, knowledge and hard work of the employees in EPS, who for decades have been showing to the economy and citizens of Serbia that they are the best when it is the most difficult, every goal is attainable.

Source; Serbia Energy

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