Government of Serbia acquired 100% ownership of EPS Distribucija

12/29/2020
Contract on transfer of founder's rights signed

Zorana Mihajlović, Deputy Prime Minister of Serbia and Minister of Mining and Energy, and Milorad Grčić, Acting Director of PE EPS, signed an agreement transferring the founder's rights of EPS over the Distribution System Operator "EPS Distribucija" to the Government of Serbia.

- Finally, clearly divided activities will increase the efficiency of both companies, which will remain in state ownership. The state will strengthen EPS by investing in new capacities and in environmental protection. This vision predicts EPS to be one of the most powerful companies in the entire region, and we must not wait 20 years to implement this vision, we should do it as soon as possible. The vision for the distribution system operator is to keep losses to a minimum, which means they should be at least several times lower than they are now. Customers should be satisfied with the quality of electricity, and not only with the quantity and the way it is delivered - said Mihajlović.

She advised workers of "Electric Power Industry of Serbia" and "EPS Distribucija" to have faith in their companies and in the Government of Serbia.

- We will do everything in our power so that the workers can perform their duties without obstacles. They should not fear that EPS or DSO will be privatized. These companies are the most important ones we have and we will keep and further develop them. Also, workers should not fear that they will lose their jobs as companies need them and there is never enough of them. I expect to see certain results within the next year because it does not take much for DSO to be even better and for EPS to start working on new hydro power plants and new plants related to environmental protection - Mihajlović pointed out.

Milorad Grčić, Acting Director of EPS said that the transfer of founder's rights to the Government of Serbia is the end of the process that began five years ago, which implies harmonization with legal obligations and guidelines defined by the Government of Serbia.

- From this day, the Government of Serbia is the owner and founder of "EPS Distribucija" and "Electric Power Industry of Serbia", as well as the owner and founder of EMS. EPS will continue to modernize and invest in environmental protection and new production capacities. We will be particularly committed to investing in renewable energy sources, so that we have an increasing amount of green energy in the future. I am also very proud because of the fact that in our time two flue gas desulfurization plants will be built on TENT A and TENT B - said Grčić and wished DSO good luck in its further work. 

Bojan Atlagić, Acting Director of "EPS Distribucija" said that the DSO will obtain a license and adopt a number of other legal acts for its functioning, and pointed out that the DSO will provide customers better quality of services through development.

President of EPS Trade Union, Milan Đorđević, told the employees of both EPS and DSO that there is nothing to be concerned about when it comes to the act of giving the property of "EPS Distribution" to the Government of Serbia, as this does not fundamentally change anything, since EPS is 100 percent state owned.

- In this way, an opportunity is created for further development and even more efficient distribution of electricity and better supply of the economy and citizens, as well as for great savings by reducing theft, network losses and improving network maintenance. We expect that Government of Serbia will continue the development of EPS and DSO, and that EPS will become market leader in this part of Europe - said Đorđević.

President of DSO Trade Union, Branko Tomić, estimated that the DSO will justify its existence and that after this change it will operate even better and more efficiently through further development.

 

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