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In the last session, the International Monetary Fund rebuked the Serbian authorities for not correcting electricity prices for small and medium-sized enterprises in September, which is lower than producer prices, and for not increasing the amount of compensation for renewable energy sources, as “Blic” has learned.
Likewise, the failure to comply with the deadlines related to the procedures in the transformation of the company from a public company to a public limited company, mainly the part related to the delay in the announcement of the real estate appraisal tender, was reason for criticism. In other words, in the third review, it was agreed that after the analysis of the situation in EPS, by June, the anomalies observed would be corrected urgently. The analysis was carried out within the established deadline and showed that the price of electricity production is higher than the sale price for households and small customers, but also that the rate of 0.093 dinars per kilowatt for RES cannot cover the costs. allocations for green energy.
– That analysis showed that EPS sells electricity to households and small customers at prices that are lower than production by almost eight percent, so they should have increased the price of kilowatts. It also shows that the RES rate does not cover the costs of green kilowatt allocations, so EPS allocates significant funds from its coffers, undermining business stability. The IMF also asked for an explanation as to why the Government of Serbia waived the correction of the RES rate in 2020, especially since the decision was made after it was recommended and why EPS requested its increase. The IMF also warned that there was a delay in the process of changing the status of the company to a public limited company and that it was recommended to announce a tender for the evaluation of assets as soon as possible – says our source from Nemanjina 11.
It adds that the representatives of the Serbian authorities gave explanations about the objections.
– The Serbian side explained that the consequences of the pandemic are visible in Serbia and that a significant number of families in Serbia are in danger because of them, and that it would not be appropriate to make their situation even more difficult. They also said that small customers, mainly entrepreneurs, had suffered significant damage from the pandemic and that increasing the price of electricity was estimated to make their business even more difficult. For these reasons, the IMF representatives had an understanding, but not for those who refer to the exemption from the rate increase for RES. This is all the more so because EPS losses from the purchase of electricity from renewable sources at subsidized prices increase, says our interlocutor.
This was recently confirmed for “Politika” by Professor Branko Kovacevic, Chairman of the Supervisory Board of EPS.
– If the RES tariff does not increase dramatically, EPS losses from the purchase of electricity from renewable energy sources at subsidized prices in 2021 will amount to 100 to 150 million euros a year – said Kovacevic.
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