Elektroprivreda Republike Srpske in the red again

“Elektroprivreda Republike Srpske” is in financial trouble, and in addition to a loss of 29 million KM last year, companies in the system have started accumulating millions in tax liabilities.

The total uncollected tax debt of seven companies within ERS at the end of this month amounted to 7.4 million KM, confirmed the RS Tax Administration for CAPITAL.

The largest debtor is „Elektro – Bijeljina“ with 1.83 million KM, followed by „Elektrokrajina“ with 1.6 million KM, and the Mine and Thermal Power Plant „Ugljevik“ with 1.57 million marks. The Mine and Thermal Power Plant „Gacko“ also has a debt of millions (1,059,483 KM).

„Hydroelectric Power Plants on the Trebišnjica“ owe 296,095 KM, „Hydroelectric Power Plants on the Drina“ 360,510 KM, and „Elektro-Hercegovina“ 661,697 KM.

„Total due and unpaid obligations of public companies within „Elektroprivreda RS“ as of 29.01.2021 amount to 7,394,929 KM. These obligations primarily relate to taxes and contributions on personal income and concession fees for the use of electricity facilities“, stated the RS Tax Administration.

The management of „Elektroprivreda RS“ boasted last week that the stabilization-reorganization policy implemented over the past 24 months has led to a reduction in the number of employees and new hires, more efficient work of employees, and the continuation of investments.

All of this, however, was not enough, as they also admitted that a loss of 29 million KM was recorded at the holding level.

According to the executive director for economic and financial affairs of ERS, Darko Milunović, this was influenced by poor hydrology, the coronavirus pandemic, as well as the accident at HE Plat.

ERS revenues last year amounted to 681.5 million, while expenses amounted to 710.5 million KM.