Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Serb Elektroprivreda Sees Record Output on Abundant Hydro Power

June 26 (Bloomberg) -- Elektroprivreda Srbije JP, Serbia’s dominant power company, expects a record output this year because of high water levels at its hydro plants and cheap exported power.

Output will be almost 37 billion kilowatt hours, above the 2011 record of 36 billion kilowatt hours, enabling net exports of “at least” 2 billion kilowatt hours, double the five-year average, said management board Chairman Aca Markovic, in an interview in Belgrade today. The company also counts on an average export price of 5 euro cents per kilowatt hour, he said.

“For our usual seasonal buyers in the region, it’ll be cheaper to buy power from our hydro facilities than to burn gas or coal at their own plants,” Markovic said. Rains that caused floods across central Europe earlier this month worked well for the company because hydro works account for 40 percent of available capacity.

The Belgrade-based country’s unconsolidated net loss fell 50 percent last year to $27.5 million on cost cuts, even after last year’s drought depleted power generation at its hydro plants and forced it to turn to costly imports amid soaring prices in the first quarter of 2012.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.