Elektroprivreda Republike Srpske has continued borrowing in 2026, approving a new loan of 50 million BAM just days ago. This is the second borrowing this year, after the entity power utility already took on a five-million-BAM loan at the beginning of February.
The financial situation in the company has significantly deteriorated. Instead of the planned profit of 40 million BAM, the utility ended last year with a loss of nearly 30 million BAM.
Financial results show a sharp decline compared to previous years. In 2023, Elektroprivreda RS recorded its highest net profit since its establishment — almost 145 million BAM. However, 2024 ended with a modest surplus of only 3.2 million BAM, while 2025 concluded with a deficit of 27.8 million BAM.
Despite the poor business results, the company says that electricity prices will not increase for now.
Director General Luka Petrović stated that the issue is under constant analysis.
“There is no increase in electricity prices at the moment. Analyses are always on the table and are being monitored. It is certain that the minus realized in 2025 will only appear in the production company RiTE Ugljevik. In the parent company there will also be negative business results because we purchased larger amounts of electricity,” Petrović said.
Economic analyst Zoran Pavlović believes the main problem lies in how the company and its capacities are used.
“Why does a hydropower plant on the Drina need advertising when it is a monopolist? And how can you buy a car worth 100,000 BAM and then show at the end of the year that you are 2.5 million in the minus?” Pavlović asked.
Criticism also came from opposition politician Jelena Trivić, president of the People’s Front, who claims that the collapse of the energy sector is intentional.
“There is a conscious intention to collapse the power sector of Republika Srpska so that one clique can get rich, and later say that privatization is the only solution,” Trivić said.
The most difficult situation within the system of Elektroprivreda RS remains in the coal-fired power plant and mine RiTE Ugljevik. The facility has been out of operation for about a month and a half and is also burdened with large debts toward Slovenian partners.
Problems are visible across the entire system. By the end of last year, the total liabilities of Elektroprivreda RS and its subsidiaries exceeded 1.3 billion BAM.
Analysts warn that, regardless of the current promise that electricity prices will not rise, the financial burden of the energy sector will ultimately be borne by citizens.
