Serbia’s Electric Power Industry (EPS) reported a profit of 10.8 billion dinars in the first quarter of 2025, though this is lower compared to the same period last year, when EPS earned 28.2 billion dinars, marking a decrease of approximately 17.4 billion dinars. A detailed financial report has not yet been published on EPS’s website.
EPS stated that the profit of 10.8 billion dinars exceeded the company’s plan for the period. Despite this, the company’s sales prices for industry were around 20% lower than the previous year. Dubravka Đedović Handanović, the Minister of Mining and Energy, highlighted that energy security was maintained throughout the winter, with stable production and supply of electricity, even though hydroelectric production was 30% lower compared to Q1 2024 due to unfavorable hydrological conditions.
Additionally, the mining sector showed growth, with coal production increasing by 8% compared to last year. Power production in thermal power plants was also up by 3%, and coal stockpiles were 8% higher. The overall investment level remained stable, with nearly 95% of the planned investments for the year already realized. However, Đedović Handanović emphasized the need to accelerate investments in mining systems to open new mines and secure sufficient coal supplies.
The minister also mentioned the ongoing construction of the first EPS wind farm in Kostolac and the Petka solar power plant. All 20 wind turbines and solar panels have been installed. Once operational, these projects will add 76 green megawatts to Serbia’s energy grid.
She concluded by stressing the importance of continuing EPS’s transformation process, particularly in improving operational efficiency, to ensure long-term sustainability.
