Power utility EPBiH has recorded a loss of 25.5 million euros from January to September 2023. The company said in a statement that the trend of negative performance, attributed to energy-related factors, price-cost dynamics and other circumstances, is expected to continue until the end of 2023.
The company’s financial losses, which play a fundamental role in preserving the integrity and stability of the electricity system, are a consequence of disruptions in the electricity market, a significant reduction in market sales volume, and the inability to achieve projected revenues in the trading sector.
The company further explained that the negative performance is primarily due to the continuous reduction in coal deliveries from EPBiH’s coalmines in the 2020-2022 period, which continued until September of this year. This was compounded by an increase in coal prices and transportation costs, reduced electricity production and the balance surpluses used to offset the differences between production and sales prices in public supply through market placement.
The prices of electricity within public supply, in effect since 1 January 2015, have been a decisive factor in customers’ decisions to increase their electricity consumption for heating and cooling purposes, due to the reliability of EPBiH and the stable supply it guaranteed. This trend, particularly evident during the global energy crisis and uncontrolled increases in prices of other energy sources, has been maintained and is trending upward, largely due to electricity prices, which are among the lowest in Europe.
