Serbia: Power utility company, The new statute of PE EPS comes into force

Published on 6. March 2014., News Serbia Energy

New Statute of the Public Enterprise “Serbia Power Utility Company” came into force today. In accordance with the Statute have been prepared amendments to the founding documents of subsidiary companies within the “Serbia Power Utility Company” and addressed to the EPS Supervisory Board for adoption. The Supervisory Board has 15 days to adopt new founding acts of subsidiary companies, and then the Government of Serbia has to approve them.

With these amendments officially begins EPS corporatization, also predicted in the Starting point for the EPS reorganization, which the Serbian Government adopted yet in November 2012^th.

With the implementation of corporatization within the system of “Serbia Power Utility Company, the aim is to standardize business processes, provide a uniform system of administration and management tasks and optimize costs in finance, legal affairs, information and communications technology, human resources, procurement and public relations. In this way, EPS would become more efficient and profitable, and all processes more clear. It is estimated that with the new EPS organization annually would be saved 36MEUR, or 100.000 EUR per day.

The adoption of new EPS Statute is the first step in the corporatization and when the Supervisory Board EPS adopts amendments to the founding acts of Subsidiaries, it will be really created the conditions for the implementation of the corporatization, which is the only way that EPS becomes more efficient, more transparent, and that the responsibility ultimately gets name and last name, which is in the interest of the citizens and its founder, the Serbian Government.

Source; Serbia Energy