BELGRADE – Electricity price increases are not planned for this year, Aleksandar Obradovic, CEO of Serbia’s electric power company EPS, said on Sunday.

Illustration - Photo: Novosti
Illustration – Photo: Novosti

The reason for this is a price drop in Europe and the region – another analysis of trends will be carried out and a conclusion made in collaboration with the IMF and the World Bank about what should be done, Obradovic said, adding that the EPS will be reorganised successfully.

“The EPS is a positive example of successful implementation of the government policy aimed at reforming public enterprises,” Obradovic told TV Pink.

For now, the EPS is operating with great success even though, under an approved plan, it should have been a loss-making company, Obradovic said, adding that the EPS will generate a surplus in excess of RSD 2 billion.

That is a result that is almost EUR 200 million better than expected, he stressed.