EBRD considers approval of loan to EPS - 40m EUR for purchase and installation of modern electric meters

European Bank for Reconstruction and Development is considering approval of the loan of 40m EUR to the Electric Power Company of Serbia (EPS) for procurement and installation of modern electric meters.

According to the website of that creditor, total value of the project for procurement of electric meters for remote reading and accompanying infrastructure for modernization of the network, which would reduce the losses in power supply system, amounts to 80m EUR.

The plan is that the project be also financed by the European Investment Bank (EIB) with the loan of 40m EUR. Installation of new electric meters and modernization of the power distribution system enable EPS to increase the percentage of charged bills and energy efficiency and improve the operations.

The Electric Power Company of Serbia is the monopolist in the field of power supply in Serbian market.

- According to earlier announced data on EBRD's website, tenders for procurement of electric meters should be announced in the second quarter of 2010, while the tender for consulting services for support to application of the project should be announced in the third quarter of the year - it is stated on the website.

Elektroprivreda Srbije ad Beograd

EBRD Evropska banka za obnovu i razvoj Beograd

EBRD London

EIB