The political party Serbia Center claims that this year Electric Power Industry of Serbia (EPS) was not only unprepared for winter but also for autumn, as large electricity imports began in early October, reaching up to 1,500 megawatts (MW) at certain hours.
According to the party’s Energy Committee, the main reasons are extended overhauls, poor-quality coal from the Kolubara mine, and unfavorable hydrological conditions.
“Winter hasn’t even started yet, and EPS is already facing daily generator failures, forcing the company to import large quantities of electricity. To make matters worse, electricity prices on the market rarely fall below €100 per MWh, and during evening hours they can reach as high as €400 per MWh. As a result, EPS is spending tens of millions of euros on imports this October — likely close to €100 million,” the committee warned.
They added that this information is not publicly available because EPS classifies it as a business secret, even though it represents significant financial losses and a drain on the country’s foreign currency reserves.
“The frequent generator breakdowns clearly show that the overhauls were poorly executed — where they were done at all. Maintenance has been postponed year after year, and breakdowns will continue. EPS will once again be forced to import large quantities of electricity at the end of the year, precisely when market prices are at their highest,” the committee stated.
They also compared the current situation to late 2021, when then-director Milorad Grčić led EPS through a similar crisis, importing massive amounts of electricity at extremely high prices. “Judging by the first half of October, the current situation threatens to become even worse,” the Energy Committee concluded.
