Today, in a time of increasing global challenges, growing digitalization and inevitable decarbonization of the energy sector, Elektroprivreda Srbije must ensure three priorities at the same time: security of supply, financial stability and sustainable energy transition. Our goals are clear – EPS must retain its position of a dominant electricity producer and supplier - said Dušan Živković, EPS General Manager, at Belgrade Energy Forum.
He explained that in the forthcoming period, it will be important for every energy company to firmly maintain financial security, to support state through energy security processes and to create enough space for development, primarily through building new production capacities.
- One of the pillars of energy security is energy efficiency on the consumption side and on the production side, as well. An example of energy efficiency improvement is the revitalization of our hydro power plants, as we have increased EPS hydro capacity by more than 100 MW. We have completed the revitalization of maybe the most important power facility in the region, the reversible hydro power plant Bajina Bašta, and we have provided an extension of its life and continued provision of energy security, 40 years after its construction. The idea is also to develop pumped-storage power plants which will certainly contribute to energy security and help in connecting new RES to the system - said Živković.
At the panel Transition of the Power System: Flexible, Secure and Decarbonized Future, EPS CEO highlighted that a highly disciplined investment policy should continue implying borrowing exclusively for development and investment projects, and that there is room for additional savings in digitalization and transformation of the company.
Speaking about CBAM fee, Živković highlighted that the export of electricity from the region to EU is already lower by 25 percent, which affects the competitiveness of energy companies. RES energy is also burdened with CO2 fees for sale on the European market.
- EPS and other energy companies want to be part of the decarbonization process and to attract investors for the projects that will reduce the existing emissions, and it should not be neglected that many RES production capacities are already part of our balance responsibility. Private investors and international financial institutions are interested in investments in green energy, from production capacities to battery storages, but the current situation does not create conditions for further process of more intensive decarbonization. Therefore, we should jointly insist on finding the solution - said Živković.
