February 25 (SeeNews) - State-owned power utility Elektroprivreda Srbije (EPS) recorded a consolidated net loss of 2.731 billion dinars ($25.2 million/23.2 million euro) in 2019, up from a 1.44 billion dinars consolidated net loss in the previous year.
The company's consolidated revenue rose 5.4% to 244.022 billion dinars, while costs increased by 3.5% to 233.955 billion dinars, EPS said in a financial statement.
EPS produced 33.5 TWh of electricity in 2019, 5% below the planned output of 35.4 TWh for the period.
The electricity generated by hydropower plants exceeded the plan by 7%, while coal-fired power plants produced 10% less than envisaged.
Serbia's government plans to change the legal status of EPS to a joint stock company in 2020, aiming to improve its viability.
(1 euro = 117.524 dinars)
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