EDS Loss of 12 Billion Dinars: Party and Union Claims
Serbia Center party and the EDS Free Trade Union say the utility posted a 2025 net loss above 12 billion dinars, about 10% of its revenue.
Elektrodistribucija Srbije (EDS) recorded a net loss of about 12 billion dinars (roughly 102 million euros) in its 2025 income statement, according to a statement issued on November 14, 2026 by the Serbia Center party (Srce). The Free Trade Union of EDS workers made the same claim earlier in a letter that also demanded the resignation of management. The company itself has not published the figure and we could not confirm it independently, so we present it here as a claim by Srce and the union.
What does Srce say about the EDS loss?
Srce’s energy committee says the loss equals 10% of the company’s total operating revenue. Citing unnamed “insider” information, it also says the loss could be five times larger this year. No one else has confirmed that figure.
Srce sums up its conclusion with the line “The new government will be handed a hot potato in the form of EDS.” The argument rests on how the system operator is funded: the Energy Agency approves its network fee based on planned costs and investments, so, in the party’s logic, such a company should not run at a loss. From that the statement concludes:
“That is why it is crystal clear that the system operator’s loss points to abuse and embezzlement of approved funds.”
Whom does Srce hold responsible?
Srce places responsibility on acting general director Biljana Komnenic and her predecessors Bojan Atlagic and Aleksandar Slijepcevic. According to the statement, their main role was to allow money to be “siphoned” from the company’s accounts to private firms owned by the leadership of the Serbian Progressive Party. Srce also accuses them of placing unqualified staff in cushy jobs at EDS. These are accusations by one party that have not been independently verified, and none is backed by a document in the texts we read.
What does the union demand?
In a letter dated November 2, 2026, the Free Trade Union of EDS workers asked Komnenic to resign immediately. It cites years of the company’s decline, disregard for professional expertise and damage to employees’ dignity, and accuses management of bringing EDS “to the edge of financial ruin.” Unlike Srce, the union speaks of a loss of more than 12 billion dinars, which it says is likewise 10% of total operating revenue.
The letter states:
“The fact that a company with an absolute monopoly on the market is posting such negative results is clear proof of someone’s incompetence, wrong personnel policy and wrong priorities of the management you head.”
The letter pins that responsibility on Komnenic personally. The union also claims that EDS is run as “somebody’s private property,” that people were placed in responsible posts according to political affiliation and personal loyalty rather than knowledge and experience, and that the resources of the state company were “subordinated to party interests.” On the position of employees, the union writes:
“Instead of respect for the people who keep this system running, workers have for years been exposed to intimidation, pressure, blackmail, humiliation and divisions into the suitable and the unsuitable, the obedient and the disobedient.”
What is still unknown?
A response from EDS and Biljana Komnenic to the accusations by Srce and the union has not been published in the sources we reviewed. The same goes for any confirmation or denial of the roughly 12 billion dinar loss from the income statement itself. The estimate that the 2026 loss could be five times larger rests, for now, solely on the unnamed sources cited by Srce.
