20 Largest Electricity Debtors Owe RSD22.4 BN to Power Utility EPS at end of October

EPS (BETAPHOTO/ AMIR HAMZAGIC)

As of Oct. 25, 20 largest electricity debtors, six of which are in receivership, owe a total of EUR22.4 billion in arrears to power utility company Elektroprivreda Srbije (EPS), Belgrade daily Danas reported in its Nov. 26 issue.

Out of the total, RSD10.3 billion is in debt relief program, EPS has sued debtors for RSD2.2 billion, while RSD8.5 billion is trapped in liquidation and bankruptcy process. Since the beginning of the year, the debt has increased by RSD369 million.  

Steel manufacturing conglomerate Zelezara Smederevo, which has been in receivership since on March 31, 2019, is the largest debtor with RSD6.3 billion in arrears, followed by national railway infrastructure manager Infrastruktura Zeleznice Srbije with a debt of RSD2.8 billion. The third largest debtor is Energetika Kragujevac owing RSD2.4 billion in electricity bills, with its debt increasing by RSD37.5 million since the beginning of 2024, and coal mine Resavica with a debt of RSD1.76 billion.

Other major debtors include media company Politika in receivership with RSD1.15 billion in unpaid electricity bills, glass factory Srpska Fabrika Stakla owing RSD803 million, radiator maker Radijator, RSD670 million, fertilizer producer HIP Azotara, RSD416 million, and agricultural machinery manufacturer IMR, RSD275 million. On the list of 20 largest debtors are also public utility companies Infostan Tehnologije and Beogradski Vodovod i Kanalizacija owing more than RSD900 million to EPS.

Other major debtors are heating plant Toplana Bor, which EPS has sued for RSD673 million, utility company Lazarevac, the Municipality of Smederevska Palanka, and the cities Kragujevac and Novi Pazar, all of which have signed for debt relief program, according to Danas. On the list are also state companies - firearms and artillery producer Zastava Oružje, Vranje-based textile producer Jumko, and Kikinda-based ceramic tiles maker Toza Markovic, the latter is majority owned by state natural gas provider Srbijagas.