Zivkovic: EPS's goal is to be dominant producer, supplier amid global challenges

BELGRADE - The goal of Serbia's national electric power company EPS is to maintain its position of the dominant electricity producer and supplier amid growing global challenges, EPS Director General Dusan Zivkovic said on Tuesday.

"Amid growing global challenges, rising digitalisation and inevitable decarbonisation of the energy sector, EPS must secure three priorities at the same time: security of supply, financial stability and a sustainable energy transition," Zivkovic said at the Belgrade Energy Forum.

For every energy company, maintaining financial security will be important in the coming period, Zivkovic said, adding that energy companies would also have to support governments in energy security processes and create sufficient space for development, above all, by building new production capacities.

"Energy efficiency on the consumption and the production side alike is one of the pillars of energy security. Our revitalised hydropower plants are an example of improved energy efficiency, as we have boosted the strength of the EPS hydropower sector by more than 100 MW. We have completed the revitalisation of perhaps the most significant power generation capacity in the region, the Bajina Basta reversible hydropower plant and, 40 years after its construction, we have ensured an extension of its lifespan and further energy security. There is also an idea to develop pumped storage power plants, which will definitely contribute to that energy security and help connect new renewable energy sources to the grid," Zivkovic said.