Serbia: TSO Co EMS stable business results

, News Serbia Energy

Director of electricity transmission operator EMS Nikola Petrovic stated that it is the most modern state-owned company in Serbia and that it has paid 196 million euros in the state budget in the past four years.

Petrovic said that the company worked hard in the past few years and implemented several important infrastructure projects, among them the construction of Beograd 20 and Vranje 4 substations, as well as the beginning of the construction of TransBalkan Corridor for the transfer of electricity.

He added that five new transformers totaling 1,600 MVA have been installed, which is a record in the company’s history and reminded that Serbian power exchange SEEPEX had been founded, while EMS expanded its operations in the region by acquiring 10 % stake in Montenegrin electricity transmission system operator CGES in late 2015. He added that EMS had a great role in international organizations and that three EMS employees had earned one million euros for Serbia by participating in international projects.

Prime Minister Aleksandar Vucic pointed out that it was important that big infrastructural results had been achieved, but the amount of money paid to the state budget by EMS was even more important, stating that the company did not suffer from its obligations to the state as it is financially well and stable. PM Vucic also pointed out that the activities on the construction of Trans-Balkan Corridor should be slowed down, as Serbia earned more without it.