EPS lost half its annual profit in just one week

The national electricity company, Electric Power Industry of Serbia (EPS) has spent some 60 million euros on importing electricity due to the recent collapse of the power grid system, i.e. the failure of almost all blocks of the largest thermal power plant in Serbia – Nikola Tesla – to produce enough electricity from Sunday, December 12 to Sunday, December 19, writes Danas daily.

According to the relevant data which show the production, import and prices of electricity in Serbia and the region, the peak period was from Monday to Thursday, when more than 40 million euros were spent in just four days. Although, according to what the President of Serbia said during his visit to Kostolac two days ago, all the blocks are now operating normally, the import of electricity has continued but in smaller quantities.

By way of comparison, last year’s total EPS’ investments were around 320 million euros, which means that 1/5 of the annual investment amount was lost during the emergency week. Or, since the company’s last year profit was around 137 million euros, almost half of the annual profit was spent on emergency import of electricity, due to the lack of coal, in a single week.

The collapse, which the executive director for energy production at EPS, Miroslav Tomašević, denies as he says that the word ‘collapse’ should be used when the entire country doesn’t have electricity, began on Sunday morning with a drastic reduction in the production of electricity in thermal power stations because of which 30,000 consumers were left without electricity.

The production capacities dropped from the standard 2,700 megawatts to just 1,200 megawatts per hour. On Sunday, thanks to the fact that it was a public holiday and the lower consumption, it was possible to compensate for much of the drop in coal production, so ‘only’ around 3 million euros were spent on importing the needed electricity, reports Danas.

(Nova, 21.12.2021)

https://nova.rs/vesti/biznis/eps-za-nedelju-dana-izgubio-polovinu-godisnjeg-profita/

This post is also available in: Italiano

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