« Power plants are not guilty »: Why are Belgrade power plants to survive the year of the energy crisis better than the past? – Economy

It is especially paradoxical that the loss is realized in the year when the price of natural gas on the European TTF stock exchanges was significantly more favorable than 2022. year, despite the price of gas, and up to 100 times than last year, business was done with gain.

Further surprises the fact that Belgrade power plants during 2024. And they increased the cost of heating. for 8.92 percentbut that was not enough to avoid a negative balance.

The first business of Belgrade’s power plants indicated the new DEMOratic Party of Serbia (new DSS) indicated that the financial statements of this company show dramatic deterioration of business.

They pointed out that the company operated with a significant profit from 2012. until 2023. years, that 2024. ended with a loss of 1.2 billion dinars.

This party also indicated that the endangerment of the business of this company speaks and the fact that Belgrade power plants were forced to take loans from commercial banks worth five billion dinars and to maintain current liquidity.

« Problems exist with the construction of the Hot Pads from Obrenovac to New Belgrade, which is found in 165m euros taken in 2020. years, » said from the new DSS, that Serbia has taken this obligation that, in 2024, is eight million euros.

What does the financial report show?

The financial report of the Belgrade Power Plants, which was published in the Business Registers Agency (Apr), shows that the company has achieved business revenues from about 34 billion dinars last year, while revenues in 2023. were 31 billion dinars.

This leap of about three billion dinars was created because the company raised the heating price since October 2024. for 8.92 percent. Also, prices were increased and 1. In September 2023. year by six percent.

If these were the reasons for increasing business revenues, the company of the Belgrade power plant in the Note Report was also mentioned.

« Larger amounts of sales revenues and result are mainly increasing prices from 2023. year, and a lesser extent at 2023. During 2024. year increase in prices was approved in October 2024, » a company in Note was indicated.

However, while operating income increased by about three billion dinars, business expenses increased by about five billion dinars.

The financial statement states that operating expenses in 2024. year amounted to 36 billion dinars, and in 2023. years of 31 billion dinars, while in the year of energy crisis, the expenditure amounted to 27.7 billion dinars.

The costs of materials, fuels and energy that were in 2024 increased most than two billion dinars higher than 2023 years. Years.

Belgrade power plants cost the most of the gas procurement of « Srbijagas », which amounted to about 20 billion dinars last year, while the year earlier was around 16.5 billion dinars.

One of possible reasons why Belgrade’s power plants spent more money for the procurement of gas last year than 2022. years, when the price was multiple collects, it is colder winter.

Winter 2022. At 2023. remembers as one of the warmest winters in the last few years, while the past winter was quite colder and demanded more energy to heat homes.

However, costs for procurement of fuel oil, coal, pellets with 2.3 billion dinars in 2023 were in 2023. At 808 million dinars last year.

But therefore, costs of Beocista energy have emerged. The costs of Beocyte refer to the taken energy related to the Vinča Transport System and the garbage bacing in Vinci, states in Note.

In 2024 years, the costs of earnings for employees increased by about half a million dinars, and high cost was noted in the composition of property values ​​(except financial) by about 420 million dinars.

This is a big jump, not the note is not stated that caused this cost, perhaps due to write-offs of an asset.

High interest

The financial report shows that the company is burdened and high interest, although this cost in 2024. was lower than in 2023.

Within the tensile interest, the largest part refers to interest calculated by the PE « Srbijagas » due to delays in paying the obligations for the delivered gas in the amount of about 350 million dinars.

Interest from Chinese Export Import Bank refers to interest on loans for the implementation of the project of the outgraded hot water Obrenovac New Belgrade, according to the company in Note. Last year, Belgrade power plants were allocated for interest to this bank about 93 million dinars.

Interest Bank Intesa and OTP banks refer to interest for 2024. Year based on approved liquidity loans, while the interest rate KfW banks are calculated by KfW Bank for realized investment projects.

The most interested in the interest of the Belgrade power plant was paid by OTP Bank in the amount of about 109 million dinars.

End result

In the end, 2024. Year of prezeca Belgrade power plants ended by a loss of about 1.2 billion dinars, while in 2023. achieved a profit of about 27 million dinars.

In 2022., ie the year of energy crisis, the profit of Belgrade power plants was as much as 1.8 billion dinars.

Who is the fault that Belgrade’s power plants become losing?

First of all, the energy crisis is due to high energy prices from 2022. it melted the good results of Belgrade power plants.

The company stated in the financial report, it stated that one of the main reasons for the achieved loss and that the growth of heating prices did not accompany the cost of the costs of this company.

« In both cases (increase in heating price and from September 2023. and from October 2024. years), approved increase in heating prices was significantly compared to increased gas prices, which is one of the reasons for the achieved loss, » the company in Note was mentioned.

And the President of the Association of Heating Plants of Serbia, Dejan Stojanović, told today that the company has achieved a loss due to the growth of natural gas prices.

« For example, the price of natural gas is 2024. Until March 2025. years increased by 30 percent, which was a period when the heating plants were pulled by the heating plants when the prices were pale, » Stojanovic stated.

In order to cover the losses, the company had to borrow, so it is now worse and high interest.

However, the director of the Center for Local Self-Government (CLS) Nikola Jovanović pointed out another reason why the company of the Belgrade power plants became losing.

« The power plants are not guilty of the city and city public utilities towards power plants. The city is large. The city owes about two billion dinars to power plants, » Jovanovic concluded.