The Serbian power company (EPS) reported a net loss of approximately 250 million Euro for the first three months of 2022, said the company in its report on the realization of a three-year program, Danas reported.

This is the result following the loss of 13.2 billion Dinar (1 Euro – 118 Dinar) in the last quarter of 2021, because in the first nine months of 2021 the company had profit of 8.5 billion Dinar.

The report said that EPS was not subsidized by the state and that it borrowed money, so on March 31, 2022 its debt stood at 165.7 billion Dinar or 1.4 billion Euro.

The main reason for this EPS situation is the collapse of the thermal power plant Nikola Tesla (TENT), Danas reported.

In the fourth quarter of 2021 EPS imported 1.224 GWh of electricity which it paid 289.7 million Euro, or 278.7 million Euro above plan.