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Elektrodistribucija Srbije faces losses despite EPS record profit

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Despite a record profit of 114.3 billion dinars for Elektroprivreda Srbije (EPS) last year, Elektrodistribucija Srbije (EDS), responsible for distributing electricity to consumers, had a challenging year, as reported by “Danas.”

Financial reports published on APR reveal that Elektrodistribucija suffered a loss of one billion dinars, equivalent to almost nine million euros. This marks a significant downturn compared to the previous year, 2022, when EDS reported a profit of 250 million dinars, or slightly over two million euros.

The separation of Elektrodistribucija from EPS in 2021 saw it delivering 26.3 million megawatt-hours of electricity last year, reflecting a decrease of 1.7 percent compared to 2022. However, EDS took over 29.5 million megawatt-hours of electricity, indicating a disparity between received and delivered electricity, primarily due to losses in the distribution system. These losses amounted to 3.2 million megawatt-hours of electricity last year, a figure exceeding half of the annual production of the ─Éerdap 1 and 2 hydroelectric power plants, according to EPS data.

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As noted in EDS’s financial reports, losses accounted for 10.85 percent of the total power taken last year, a slight decrease from 2022 when losses represented 11.22 percent of the total power taken.

The costs incurred by EDS for purchasing electricity to cover these losses were substantially higher in 2023 compared to 2022, amounting to 11.7 billion dinars (approximately 100 million euros).

In total, EDS paid 38.2 billion dinars (326 million euros) to EPS for the lost electricity.

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