Serbia: Power utility reorganization and impact from IMF & WB influences

, News Serbia Energy

The Program of EPS reorganization also relies on the new energy law. EPS reorganization is also influenced by overall relations and talks with key stakeholders IMF and World Bank.

The division of the activities within the EPS system and the formation of the three legal entities instead of the current 14 entities, is in full compliance with the law and at the same time with the European regulations. The reorganization of EPS is the basis for the process of corporatization of PE EPS, and it is important to emphasize that for the plan implementation it was necessary that the Serbian Government adopted the Articles and Memorandum of Association of EPS, which Ministry has precisely done.

Conditions have been met to begin with the process of corporatization, but there is still a lot of work which requires a great effort and cooperation in order to conduct the process. In addition to the Program of reorganization, the preparation of a very important document of the Plan of financial consolidation of EPS is in progress, and it should be completed by the end of March. This document is prepared in cooperation with the International Monetary Fund, World Bank and will be very important for the following steps in the EPS reorganization.