The processes of structural changes in the Joint Stock Company Elektroprivreda Srbije have continued aiming at further improvement of the operations, raising the level of efficiency, increasing revenues, and reducing costs.
The professionalization of the organizational structure of both human resources and information and communication technologies is one of the first major results of the Transformation Plan, which was initiated only three months ago. The organization of these two functions has been completely modified, thus improving internal efficiency and readiness for further organizational changes.
The new IT measures have continued to improve the digitalization of business processes and services, and measures to further increase the security of systems and data, with a significant reliance on own resources, were particularly considered, and partly applied. One of the important steps within the scope of IT is that EPS will be the first among state-owned companies and institutions to deposit the source code for critical information systems in the State Data Center in Kragujevac. This will further ensure that all software systems are compliant with prescribed standards and policies, and EPS will have the highest level of control over critical IT infrastructure.
Human resources are taking a leading role in further structural changes, as the new organization will enable the creation of a new strategy, a new corporate culture and will be more focused on employees, their knowledge and skills, and employer branding. The preparation of the program for scholarships for graduate and master students at technical faculties aimed at rejuvenation of EPS engineering staff, is also in the final phase. At the same time, key performance indicators for executive management have been defined, which will be done in the coming period at all other levels of the organization, in order to implement the company's goals in the time of modernization and increasingly demanding market competition.
During the three-month implementation of the Transformation Plan, new pricing methodologies for commercial customers, i.e., the economy, were adopted, and new methods of contracting were created, with the clear intention of monitoring real market conditions, in order to reduce risks for both EPS and the economy. In the coming period, the application of the methodology will mutually improve the efficiency and predictability of the business. At the same time, there are intensive activities to further improve and digitize services for the guaranteed supply.
Since there are significant investment activities ahead of us, as part of the process of further decarbonization of the Serbian energy sector, the strengthening of the investment function will be continued. For the first time, an organizational structure for project management has been established, which, by introducing a new project development methodology in line with the world's leading practices, will provide more efficient planning, monitoring, and implementation of investment projects.
The most important environmental, social and governance (ESG) topics have been identified and a stakeholder survey is ongoing to determine the priority ESG goals, overview the place and role of the company. The focus is also on the development of risk management in all operating segments in order to operate in a timely and efficient manner at a time when the challenges in the areas of climate change, fluctuations in the labor market and unpredictability in the energy markets due to complex geopolitical relations are dominant.
EPS continues with further steps in the Transformation Plan, relying on its own knowledge and expertise, applying the best experience of reforms in similar power companies.
