EPS and NIS Sign 2014 Power Supply Agreement

December 20, 2013

NIS j.s.c. and EPS Snabdevanje (EPS Supply), a public enterprise dealing in power supply as part of Elektroprivreda Srbije (Power Industry of Serbia), have signed an agreement on electricity supply to NIS plants and facilities in 2014. The Agreement was signed by Dejan Vasić, PE EPS Snabdevanje Director, and Alexey Belov, NIS j.s.c. Energy Director. The Agreement stipulates electricity supply to 1,045 metering points on NIS j.s.c. premises including the refineries, warehouses, petrol stations and administrative buildings. The signed Agreement envisages that 350 million kilowatt-hours be taken over in 2014. “The Agreement we have signed with EPS is in compliance with applicable Serbian laws. This company is our reliable partner and this cooperation will contribute to absolutely stable power supply which is crucial to our company's production units. On the other hand, with the aim to increase the efficiency of utilisation of its own resources and to balance and diversify its business operations, NIS j.s.c. has been actively developing its capacities for electricity generation. All these activities have already resulted in improved energy efficiency of the Company's operations. This aspect is highly significant in terms of aligning the Company's business operation with EU standards,” said Alexey Belov, NIS j.s.c. Energy Director. “Entering into this Agreement has confirmed Electroprivreda Srbije as a leader in the open electricity market which is to open to nearly 3,200 mid-voltage customers as of 1 January 2014. Having opened the high-voltage market early this year, EPS has maintained its 97 per cent share of the market and proved to be capable of being successful and competitive. Naftna industrija Srbije (Petroleum Industry of Serbia) is one of our most significant clients and EPS is very pleased to be recognised by NIS j.s.c, the regional oil industry leader, as the most reliable and favourable supplier in the Serbian market,” cited Dejan Vasić, PE EPS Snabdevanje Director.