Elektroprivreda BiH Revenue in 2016 amounted to 1.034 billion KM

Elektroprivreda BiH achieved a record revenue in 2016 in the company's recent history, amounting to one billion and 34 million KM, which is 50 million more compared to 2015, the company announced, Patria reports.

The profit achieved in the past year amounts to 12.86 million KM.

Despite the fact that 2016 was the first business year under the conditions of an open electricity market, and despite poor hydrological and weather conditions, continuous production, regular and stable customer supply, and financial results significantly higher than planned and the results from 2015, are indicators of the company's successful operations and contribution to preserving the electro-energy sector as a stable part of the BiH economy.

In the past year, 7,244.7 GWh of electricity was produced in Elektroprivreda BiH's facilities, with a significant increase in production at the Tuzla and Kakanj thermal power plants.

Achieving production results higher than planned, and significantly higher than the results in 2015, was possible thanks to the high operational availability of production capacities and increased coal production, which in the mines of the EPBiH Concern approached 5 million tons. Compared to 2015, coal production in the past year increased by approximately 445,000 tons, or almost 10%.

For the first time in the recent history of Elektroprivreda BiH, in 2016, prices for end customers of electricity on the 110 kV, 35 kV, and 10 kV networks, other consumption, and public lighting were reduced, which confirms the company's socially responsible actions and operations.

While maintaining its position as the largest producer and supplier of electricity in the country, in 2016 Elektroprivreda BiH also retained its status as one of the largest investors in BiH.

Within the framework of implementing strategically most important projects, the construction of the Vranduk Hydro Power Plant, the first hydro power plant since the late 1980s and the first on the Bosna River, has begun; public calls for the selection of contractors and suppliers, as well as equipment suppliers for the Podveležje Wind Farm construction, have been published; the draft loan agreement for the construction of Block 7 at the Tuzla Thermal Power Plant, along with the necessary documentation and request, has been forwarded to the Federal Ministry of Finance for the issuance of guarantees for the credit arrangement for the construction of the Block.

As part of the continuation of the recapitalization process of the mines within the EPBiH Concern, an investment plan for the period 2016-2018, amounting to 329 million KM, has also been adopted.

The business successes achieved in 2016 confirm the continuity of Elektroprivreda BiH's positive, liquid, and stable operations, with regular settlement of obligations to suppliers, state bodies and institutions, as well as employees and creditors.

The report on operations in the past year was adopted by the Supervisory Board of JP Elektroprivreda BiH d.d.-Sarajevo at a session held on Thursday, February 23, 2017.