The Serbian state-owned power utility, EPS, is positioning itself for a significant role in the future development of nuclear energy, as articulated by CEO Dušan Živković during a recent energy conference in Zlatibor. He highlighted the company’s existing scale and technical capabilities as foundational for operating a nuclear facility, while emphasizing the critical need for cultivating a qualified nuclear workforce to facilitate this transition.
This potential pivot towards nuclear power is part of a broader strategy to restructure Serbia’s energy mix. With the acceleration of decarbonization efforts, there is an increasing necessity to replace traditional baseload sources. Živković pointed out that nations with established nuclear capacities tend to be among the most economically developed, indicating that Serbia should seriously consider its position within this vital segment of the energy sector.
In conjunction with its nuclear ambitions, EPS is also progressing on several major infrastructure projects. The construction of the Bistrica pumped-storage hydropower plant has been identified as a key strategic investment, with initial project documentation completed and tenders for supporting works anticipated shortly. Additionally, gas-fired generation remains under review as a transitional solution, including discussions regarding a potential facility in Niš.
EPS has reported robust operational and financial results in recent years, bolstered by various completed investment initiatives. These initiatives encompass the commissioning of a new coal unit at Kostolac, enhancements in wind and solar capacity, and upgrades to critical hydropower plants. Notably, substantial environmental improvements have been achieved through the installation of flue gas desulfurization systems at major thermal facilities, leading to significant reductions in emissions.
Overall, EPS has successfully added several hundred megawatts of new capacity recently, thereby enhancing energy security and modernizing its generation portfolio. This growth aligns with the utility’s long-term objectives related to energy transition.
Živković also addressed regulatory hurdles, particularly concerning the European Union’s carbon border adjustment mechanisms. He cautioned that existing regulations could undermine the competitiveness of regional electricity exports, despite strong demand from the EU market. He noted that resolving these regulatory challenges could unlock considerable export opportunities for renewable energy sources and bolster the region’s standing within the European electricity market.
