Memorandum signed between EPS and USAID Better Energy project – Founding of EPS ESCO for higher energy efficiency planned

The Joint stock company Elektroprivreda Srbije and the project of the American Agency for International Development (USAID) named Better Energy signed the Memorandum of Understanding in the field of improvement of energy efficiency and RES use, EPS announced.

The key item of the Memorandum is development of the Feasibility Study to define potential for functioning of EPS ESCO which would provide the customers with new services in the field of energy efficiency and RES use, as well as to identify an optimal scope of services and an optimal scenario for market presentation.

– This concept ensures that the focus of our business operation is put on the consumers and that is exactly the way EPS intends to pursue. Our priorities imply the development of the projects for energy efficiency and RES use improvement. Thus, EPS potential, better energy sustainability of our consumers, RES use and better environmental protection will be enhanced – said Dušan Živković, EPS JSC Acting General Director.

– The project of Better Energy accepted the initiative of EPS to provide support in preparing a detailed analysis related to founding and functioning of ESCO. We believe that this idea is one of the most efficient ways to significantly improve energy efficiency and increase RES share, in a short time period, which are the objectives of extreme importance for the Republic of Serbia. If the analysis justifies the initiative and if EPS ESCO is incorporated, a significant market for the improvement of households’ energy efficiency will be opened. Additionally, a mass entry of prosumers into the energy market is expected, as well as reconstruction of all old residential buildings, replacement of the heating system, installation of the heat pumps, reactive energy compensation in the future and many other useful activities both for EPS and the entire society – said Lena Bratić, Director of the Better Energy project.

As a result of the Feasibility Study, EPS ESCO founding should be entered into the three-year business plan of Elektroprivrede Srbije to be adopted until the end of 2024. This would enable further cooperation in implementation of pilot ESCO project, which would test and prove the proposed concept in 2025.

ESCO companies or enterprises for energy-related services represent key actors in the energy efficiency field, providing comprehensive services of implementation of the projects contributing to the energy consumption decrease. These companies offer their services on a “turnkey” basis, which means that they undertake all activities from design to implementation of the project. What makes ESCO special is that ESCO guarantees energy savings and makes the process of implementation of the energy efficiency projects more financially sustainable and more affordable for the citizens, the press release says.

Elektroprivreda Srbije ad Beograd

USAID Srbija

USAID

EPS ESCO

Dušan Živković

Lena Bratić

Better Energy project

ESCO pilot project

energy efficiency in households

ESCO companies

renewable energy sources

producers consumers

prosumers