Price of Electricity Not to Increase in 2024, Acting CEO of EPS Announces

In 2023, EPS will achieve its highest profit ever, at RSD 96.5 billion, and the obligations are settled on time. That is extremely important news, and it’s even more important that these unprecedented financial results guarantee that the price of electricity will not increase in 2024.

This is revealed in an interview for the Blic daily by Dusan Zivkovic, the acting CEO of AD EPS. He adds that unobstructed production of electrical energy during the holiday season, but also in the period after it, has been secured, because the revitalization of the final generator of Djerdap 1 has been completed.

At the same time, the coal deposits contain around 2.2 million tons, which is a high quantity, and the accumulations amount to around 550 GWh.

When asked whether there’s reason to fear the announced reforms of EPS, he points out that EPS is a big system and that changes are coming in the period of complex geopolitical relations.

– The time that is coming will be marked by challenges related to the development of RES, decarbonization, circular economy, artificial intelligence, energy security and that is why it will take time to carry out changes on a deeper level. We have strong support from the state, from the president of the Republic, from the Government and from the relevant Ministry, so I believe that the tempo of the changes will be dynamic. The transformation plan should be finished by May and it will provide an overview of all the key changes relative to the strategic, operating and financial processes. In 2024, special focus will be placed on investments, production and human resources – says Zivkovic.

According to him, EPS should remain state-owned.

– My position is known and clear. Privatization is a topic we shouldn’t even discuss. EPS is owned by the state and has to remain that way – he said.

Elektroprivreda Srbije ad Beograd

EPS

Dušan Živković

electricity

electricity price increase

privatization of EPS