Bosnia’s state-owned power utility, ERS, has reported a significant decline in the financial performance of its hydropower plants (HPPs) for the first half of this year compared to the same period last year. The downturn includes substantial drops in profits for two of its plants, and one has even fallen into the red.
HET, which manages the hydropower plants along the Trebisnjica River, saw its profit plummet from €8.7 million to €2.7 million. The company’s total revenues also decreased from €24.7 million in the first half of last year to €19.3 million this year. Meanwhile, expenses saw a slight increase, rising to €16.6 million.
Similarly, HEV, operating hydropower plants on the Vrbas River, experienced a sharp drop in profit, falling from €2.2 million last year to €1.4 million. Its revenues declined from €7.4 million to €5.8 million over the same period.
The subsidiary responsible for the Drina River HPPs struggled significantly, unable to maintain even the modest profit of €60,000 reported in the first half of 2023. Instead, it recorded a loss of €350,000 this year. Revenues for this plant fell from €11 million to €9.4 million, though expenses decreased from €10.9 million to €9.8 million.
The decline in financial performance across these plants reflects broader challenges facing ERS’s hydropower operations, highlighting a need for strategic adjustments and potential improvements to restore profitability.
