Serbia: Power utility EPS restructuring marked as positive by IMF

11. September 2015. / News Serbia Energy

Restructuring of power utility EPS Elektroprivreda Srbije is going in accordance with the plan and mission objectives verified by IMF says EPS CEO Aleksandar Obradovic.

IMF, which is one of the stakeholders, estimated the EPS restructuring as positive cycle, added Obradovic.

Since the February 2015 EPS has a new organization management structure and since july EPS Group functions with three subsidiaries instead of 14. Old companies for production of coal and electricity were jointed to EPS Group while distribution companies are unified within one operator of distribution system which is now called EPS Distribution. EPS Supply continued independently as company entrusted with wholesale electricity supply company within the EPS Group.

Collection of payments were increased to 95%, cost cutting was accomplished with better planning and centralized procurement explains Obradovic.

The ongoing restructuring process in EPS is based on the plan adopted by Government of Serbia. According to Obradovic achieved results in past months demonstrated that EPS market best results in public companies reform process. , transmits Serbia-energy.eu

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