State-owned power utility Elektroprivreda Srbije (EPS) estimates that its 2023 profit will surpass 90 billion dinars (768 million euro), director general Dusan Zivkovic said.

EPS also estimates its 2023 electricity output at 34 terawatt hours thanks to the excellent performance of hydropower plants, Zivkovic said, as seen in a video file published by local news agency Tanjug.

Zivkovic noted that most of the hydropower plants met or exceeded their annual production targets last year, with the Djerdap plant generating a quarter of EPS’ total output in December.

The EPS director general did not elaborate on whether the quoted profit figure refers to the company’s net result for 2023. The company’s consolidated net loss widened to 73 billion dinars in 2022, from 16 billion dinars a year earlier, according to its website.

EPS has installed generation capacities of 7,855 megawatts. Its thermal power plans typically produce 70% of total output, with the remaining 30% coming from 16 hydropower plants (HPPs). The Djerdap hydropower complex is located in the Iron Gate gorge on the Danube. It is run jointly by Serbia and Romania. The Serbian part of the complex comprises Djerdap 1 and Djerdap 2 HPPs, which have installed capacities of 1,058 MW and 270 MW, respectively.