Serbian EPS earned 74 million euros from electricity exports

, News Serbia Energy

The Electric Power Industry of Serbia has achieved exceptional results and exceeded the set goals, despite the difficult business conditions imposed by the Covid-19 pandemic.

As stated by the acting director of EPS, Milorad Grčić, from the sale of electricity alone on the free market, EPS earned about 74 million euros since the beginning of 2021. From 1 January to 6 April, 1.4 billion kilowatt-hours of electricity were sold on the power exchanges, and there was no need to buy energy. This is about three times higher sales of electricity on power exchanges than in the same period in 2020, thanks to excellent hydrological conditions and the know-how of EPS experts.

EPS hydropower plants produced four billion kilowatt-hours in this period, which is some 50 percent more green energy than in 2020 and some 27 percent more than in 2019. Thanks to good operational readiness and revitalization, all hydropower plants were able to utilise exceptional river inflows and produced much more energy.

Coal production at the planned level and stable operation of thermal power plants have enabled EPS to produce a total of more than 11 billion kilowatt-hours of electricity since the beginning of the year. That is nine percent more than in the same period in 2020 and six percent more than in 2019.

“All results are a continuation of the domestic business policy and the use of all local resources. In 2020, when it was very difficult to achieve successful results and meet the plans, EPS had four times higher profit than planned. We recorded a net profit of 16.2 billion dinars and fulfilled production plans,” said the acting director of EPS Milorad Grčić.

“Last year, EPS paid more than 80 billion dinars into the budget of Serbia alone. Thus, we contributed to the country’s stability in one of the most difficult years, in which the Covid-19 pandemic blocked the entire planet and changed the way people live. We managed to overcome all challenges and successfully completed 2020 with a profit of around 137 million euros. EPS showed strength and resilience thanks to professional and dedicated employees and was a reliable energy support for the whole of Serbia, households, factories, hospitals,” Grčić said.

Electricity production last year was two percent higher than in 2019. EPS power plants operated stably and in 2020 produced slightly more than 34 billion kilowatt-hours of electricity. A total of 39 million tons of coal was produced at the open cast mines of EPS in the Kolubara Mining Basin and the Drmno mine in Kostolac. The miners of Kolubara achieved excellent results and for the fourth time in history surpassed the production of 30 million tons in one year.

“We continued to invest and during 2020, EPS realized investments worth a total of 37.7 billion dinars. 11.8 billion dinars were invested in environmental projects. One of the most important locations was Kostolac, where a new 350-megawatt unit worth 618 million dollars is under construction, while Obrenovac was also in a hurry, with the construction of a desulphurization system in TENT A. It is the largest environmental project of EPS and at the end of last year, a foundation stone was laid for a similar plant, only in TENT B. This system will reduce SO2 emissions by about 20 times. The project is valued at 210 million euros, while some 120 million euros will go to the local companies,” Grčić said.

He pointed out that he was also proud that a large investment cycle was being realized and that “important projects aimed at modernising EPS production have been relaunched.”

“A series of initiated investments will continue in 2021, and completely new projects will start soon. The goal is to improve the existing thermal power plants, hydroelectric power plants, mining machinery, and a special challenge is to open modern mines and build new green power plants,” Grčić concluded.