Djedovic: The main activity of EPS should be the production of electricity, but it will continue to trade surpluses

Source: RTS Monday, 03.04.2023. 13:38
Illustration (Photo: west cowboy/
EPS has stabilized its production and has not been importing electricity since the New Year, but due to the announced transition to a "joint-stock company" it is once again in the spotlight. Last week, the EPS Supervisory Board failed to adopt the decision on the transformation into a joint-stock company, because the union was opposed to the changes in the company's statutes. That topic is once again on the agenda at the meeting of the Supervisory Board, RTS reports.

It has already been announced that there will be no privatization of EPS, no layoffs and that the only change will be in its legal form, adopted back in 2014.

- Specifically, this means that relations between the state and management will be better regulated. The state sets strategic goals, and the management implements those goals through the Supervisory and Executive Board - Minister of Mining and Energy Dubravka Djedovic explained in an interview with RTS.

EPS is currently both a producer and trader of electricity. The EPS union claims that with the new statute and transition to a joint-stock company, the company loses its status as a trader and becomes only an electricity producer. In addition, they claim that the Company assembly would have only one member, the Minister of Mining and Energy, and that such an assembly would also appoint representatives of all executive functions, including the general manager.

- That's disinformation. Today, EPS is predominantly a trader, not a manufacturer. In order to protect the interests of the citizens, the general activity of EPS should first of all be production, however it will continue to deal with the trade of surplus production. EPS has one shareholder - the state, and we intend to keep it that way. One country, one shareholder, one vote. It is not true that the Assembly elects the directors, that is something the Supervisory Board does. The Assembly has reduced powers, it makes strategic decisions, and even that requires a Government approval; most of the decisions are transferred to the Supervisory Board. We are moving towards a modern corporate management, towards professionalization - Minister Djedovic stressed.
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