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Serbian Electricity Distribution Company takes a loan of 40 million euros for smart meters

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Elektrodistribucija Srbije will borrow 40 million euros from the European Bank for Reconstruction and Development (EBRD) to finance the first phase of the Smart Meters Project. The state of Serbia will guarantee the obligations of Elektrodistribucija with the bank.
The estimated value of the entire Smart Meters Project is 80 million euros and the plan is to run them in two phases (1A and 1B).
From the EBRD loan, of 40 million euros, it is planned to finance phase 1A, with a state guarantee, reads the proposal of the Law on Confirmation of the Guarantee Agreement (Smart Meters) between the Republic of Serbia and the European Bank for Reconstruction and Development.
The second phase 1B would be financed by a loan from the European Investment Bank of 40 million euros and also with a state guarantee.
The guarantee agreement stipulates that Serbia unconditionally guarantees, as the primary debtor, and not only as a guarantor, the orderly and timely payment of all due amounts and fulfillment of the assumed obligations of Elektrodistribucija in accordance with the Loan Agreement, the bill reads.
The loan is repaid in 18 semi-annual installments, with the first principal repayment date being November 10, 2025, and the last on May 10, 2034.
Liabilities that fall due on the basis of interest, commissions on undrawn funds and principal are paid on May 10 and November 10 each year.
According to the draft law, a large number of households in Serbia have “obsolete meters that have not been replaced or calibrated for many years”, which results in a slowdown in the operation of the distribution system and “incorrect display of actually consumed electricity”.
Existing devices will be replaced by modern digital devices that will enable “smart metering”. This includes remote reading, remote shutdown, power management.
It is also stated that the management of smart metering systems will enable the connection of new producers of electricity from renewable energy sources (RES) to the distribution network.
Phase 1A includes the selection of a consultant tasked with analyzing the existing measurement infrastructure, assisting in the preparation of tender documents and conducting procurement, and providing technical assistance during the commissioning of system components.
During this phase, it is planned to purchase an upgrade / update of the system for remote metering and consumption management from smart (digital) electricity meters for the area of Nis, Kraljevo and Cacak, as well as for all large (industrial) consumers in Serbia.
It is planned to procure and install the system, accompanying software and approximately 205,000 smart (digital) meters through the first phase.
The deadline for the implementation of phase 1A is from 2021 to 2025.
Phase B will include the procurement of additional 260 thousand meters for the areas with the largest losses, and it should be realized from 2023 to 2027, Nova Ekonomija reports.

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