Serbia:EPS Power utility company reduced losses says CEO Obradovic

16. October 2013. / News Serbia Energy

Acting Director General of Serbia Power Utility Company (EPS), Aleksandar Obradovic, said that this public company reduced losses in this year. According to him, instead of the expected loss of 193 MEUR it will be around 9 MEUR on the end of the year. Recalling that from1st January of this year, EPS is no longer a monopolist, he said that the company showed and proved that with its skills could fight in the open liberalized market.

“This is a drastic improvement of the company financial situationā€ said Obradovic at the opening of Energy and Environmental Protection Fairs at the Belgrade Fair, adding that EPS broke all production records and it succeeded to stabilize.

He expressed the hope that one of the success parameters will be profitability of the company.

“There are measure and opportunities for the cost cutting. Soon as the starting point for the EPS reorganization would be completed, we will have a great opportunity for drastically reducing the business costs through centralization and corporatizationĀ Obradovic said.

Recalling that from1st January of this year, EPS is no longer a monopolist, he said that the company showed and proved that with its skills could fight in the open liberalized market.

As he added, EPS kept 97 percent of the market for higher voltage, and from 1st January next year the plan is to open the market for medium voltage.

Minister of Energy Zorana Mihajlovic said that it was EPS and management task to deal with losses, both technical and non-technical, primarily in distribution companies.

“If we talk about financial management, than it is a common work of the all companies management”, said Mihajlovic.

She said that the state would no longer allow revisions of plans that deviated from the original ones for 20 percent or more.

Head of the EPS Board of Directors, Aca Markovic said that this year EPS will have a record production of 37 billion kWh of electricity and export of three billion kilowatt-hours.

Source; Serbia Energy/EPS

Download as PDF :

Download PDF