Revenues are higher than planned, eight percent more energy was produced than in the same period last year.
The successful business trend of the Public Company Electric Power Industry of Serbia was also shown by the latest financial results, according to which a net profit of 97 million euros was realized in the first half of 2021. The profit from January to June was about 12.7 million euros higher than in the same period in 2019 and 2020, although it operated in difficult conditions caused by the COVID-19 pandemic.
EPS performed positively, although the price of electricity for households is significantly lower than in the region and Europe. Thus, in the first half of this year, the average price for households on a guaranteed supply was 5 cents per kilowatt-hour, of which the price of electricity was 3 cents per kWh, and 3.2 cents per kWh the price of access and use of the distribution system, which is not EPS revenue.
The growth of business revenues was recorded, which in the first half of this year were nine percent higher than planned and amounted to 1.2 billion euros. Of the total operating income, 95 percent is income from the sale of electricity, EPS’s basic product.
“Thermal and hydroelectric power plants of Electric Power Industry of Serbia produce enough electricity from domestic coal and hydro potential for reliable and stable supply of the entire Serbian market. We preserve energy independence and stability of Serbia. In addition to supplying about 3.6 million EPS customers – households, factories, hospitals, schools, entrepreneurial shops, shops, we also successfully trade in electricity exchanges. And all this thanks to professional and hard-working engineers, miners and other EPS employees,” said Milorad Grcic, Director of EPS.
Planned investment and professional work of EPS employees can be seen in the production results. In the first half of 2021, a total of 18.3 billion kilowatt-hours were produced, which is eight percent more than in the same period last year. Excellent hydrology and modernized units have enabled hydroelectric power plants to produce 7.2 billion kilowatt-hours, which is even 53 percent more than in the first six months of 2020. The production of EPS hydroelectric power plants from January to June this year was the largest production in the first half of the year, observed in the period from 1990 until today, reports Blic.
In the first six months of this year, EPS’s investments amounted to 130 million euros, and the existing projects are heating up and new ones are being prepared.
“The goal is for Serbia to have reliable electricity production, ensured energy independence and fully fulfilled environmental norms in the coming decades. Without energy independence, there will be no economic development or a secure future for future generations,” says Grcic.
Some of the key investment projects for stable electricity production in the coming years are the construction of a 350 megawatt block “Kostolac B3”, flue gas desulphurization projects in Obrenovac’s TENT A and TENT B thermal power plants, revitalization of units in the largest Serbian hydroelectric power plant “Djerdap 1”. New projects are being prepared that will enable Serbia to have enough electricity for domestic needs, but also for export to the regional and European markets. One of these projects is the reversible hydroelectric power plant “Bistrica”, which will provide the necessary level of balance reserves and conditions for connecting new capacities for energy production from renewable sources, primarily wind farms and solar power plants, B92 reports.
