November 16 (SeeNews) - State-owned power utility Elektroprivreda Srbije (EPS) said its net profit rose to 4 billion dinars ($38.4 million/33.8 million euro) in the first nine months of 2018, from 2.1 billion dinars in the like period of last year.
The revenue of EPS rose 4% on the year to 171 billion dinars, while costs increased by 2.7% to 158.4 billion dinars, EPS said in an interim financial statement.
EPS produced 25.8 TWh of electricity in the first nine months of 2018, 3% below the planned output of 26.5 TWh for the period.
The electricity generated by hydropower plants exceeded the plan by 27%, while coal-fired power plants produced 14% less than envisaged.
Serbia's government plans to change the legal status of EPS to a joint stock company in 2020 to improve the viability of power utility and ensure its professional management.
(1 euro = 118.151 dinars)
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