Government does not negotiate with Russian partner about sale of EPS, but about refurbishment of hydroelectric power plant "Đerdap"

Minister of Energy and Mining, Petar Škundrić, claims that the Government of Serbia is not negotiating about the sale of Electric Power Company of Serbia (EPS). He adds that there are no secret or public negotiations about sale of EPS and denies speculations that the Government has been secretly negotiating about sale of EPS to Russian national company RAO UES over the last six months.

– Just like I said before on several occasions, Serbia is to decide when and which part of EPS to privatize. If EPS was privatized this moment, the price of electricity would grow by about 40%. That increase in price would be inevitable because the market price of that fuel would have to be reached – Škundrić pointed out.

Minister Škundrić confirmed that the intensive negotiations with Russia about signing of the annex to the 2003 contract on refurbishment of hydroelectric power plant "Đerdap" were underway and that they should result in commencement of serious capital overhaul of hydroelectric power plant on the Danube.

– Six turbines should be refurbished and only 25% of the work has been done so far. It takes four years of work for the overhaul to be completed – said the Minister of Energy.