Zivkovic: Goal Is for EPS to Remain the Dominant Producer and Supplier of Electricity

Elektroprivreda Srbije (EPS) aims to maintain its position as the dominant producer and supplier of electricity on the domestic market, said the company's CEO Dusan Zivkovic, according to a statement from EPS.

Important to Maintain Financial Security

He emphasized that "at a time of increasingly pronounced global challenges, growing digitalization, and the unavoidable decarbonization of the energy sector, Electric Power Industry of Serbia must ensure three priorities: security of supply, financial stability, and a sustainable energy transition."

Addressing the Belgrade Energy Forum, he stated that in the coming period it will be important for every energy company to maintain financial security, support the state through energy security processes, and create sufficient room for development, primarily through the construction of new generation capacities.

According to him, one of the pillars of energy security is energy efficiency, both in consumption and production.

- An example of improving energy efficiency is the revitalization of our hydropower plants, as we increased the capacity of EPS's hydropower sector by more than 100 megawatts. We completed the revitalization of perhaps the most significant power facility in the region, the reversible hydropower plant 'Bajina Basta,' and 40 years after its construction we ensured an extension of its operational life and the continued provision of energy security, said Zivkovic.

Integration of New Renewable Energy Sources into the System

Zivkovic pointed out that EPS intends to develop pumped-storage power plants, which will certainly contribute to energy security and help integrate new renewable energy sources into the system.

At the panel "Transition of the Electric Power System: Flexible, Secure and Decarbonized Future," the CEO of EPS stated that the company will continue with a disciplined investment policy that подразumes borrowing exclusively for development and investment projects, while additional savings can be achieved through digitalization and company transformation.

Speaking about the CBAM tax, Zivkovic stressed that electricity exports from the region to the EU are already 25 percent lower, which affects the competitiveness of energy companies.

He reminded that even energy produced from renewable energy sources is subject to CO2-related charges for sales on the European market.

- EPS and other energy companies want to be part of the decarbonization process and attract investors for projects that will reduce existing emissions. Private investors and international financial institutions are interested in investing in green energy, which is why we should jointly insist on finding a solution, said Zivkovic.

Elektroprivreda Srbije ad Beograd

Elektroprivreda Srbije

EPS

Dusan Zivkovic

electricity

energy sector

renewable energy sources